Use a value add work order in Rental Management to add value to a business object or fixed asset. The costs are captured in a work order and posted to an acquisition adjustment journal.
To process a value add work order:
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Change the work order status to closed |
Rental service coordinator |
After the item and hour journals have been added and posted. You must change the status of the work order. In this case we will change the status to closed. However, the status can be different from closed according to the process of the business. The status chosen is important as it will be one of the criteria's that you are able to filter on when you want to transfer the value add work order. Also, it is important to take into consideration the sequence of moving from one status to another. Therefore, you should consider configuring the status group of the work order tasks beforehand. |
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Create a value add work order |
Rental service coordinator |
Create a value add work order using a predefined template. Configure value transfer fields in work order parameters. You can transfer value by increasing the value of the existing asset or by creating a revision asset linked to the original. In this case, value is posted on the new asset. You can also define a minimum value for the value transfer, although it is not required. |
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Create hour journal |
Rental service coordinator |
Create an hour journal to register the actual hours worked by resources on a job. Set up cost and sales prices before registering hours. Fill in the following fields:
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Post hour journal (Work order) |
Rental service coordinator |
Post the previously created hour journal to register labor costs on the work order. |
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Create an item journal for a value added work order |
Rental service coordinator |
Create and post the item journal to add items that increase the value of the fixed asset or inventory item. Because site is mandatory in the product dimension, set up default order settings in advance to auto-populate the price, site, and warehouse. |
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Post item journal (Work order) |
Rental service coordinator |
Post the previously created item journal to register item consumption on the work order. |
| Name | Responsible | Description | ||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Change the work order status to closed |
Rental service coordinator |
After the item and hour journals have been added and posted. You must change the status of the work order. In this case we will change the status to closed. However, the status can be different from closed according to the process of the business. The status chosen is important as it will be one of the criteria's that you are able to filter on when you want to transfer the value add work order. Also, it is important to take into consideration the sequence of moving from one status to another. Therefore, you should consider configuring the status group of the work order tasks beforehand. |
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|
Create a value add work order |
Rental service coordinator |
Create a value add work order using a predefined template. Configure value transfer fields in work order parameters. You can transfer value by increasing the value of the existing asset or by creating a revision asset linked to the original. In this case, value is posted on the new asset. You can also define a minimum value for the value transfer, although it is not required. |
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|
Create hour journal |
Rental service coordinator |
Create an hour journal to register the actual hours worked by resources on a job. Set up cost and sales prices before registering hours. Fill in the following fields:
|
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|
Post hour journal (Work order) |
Rental service coordinator |
Post the previously created hour journal to register labor costs on the work order. |
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|
Create an item journal for a value added work order |
Rental service coordinator |
Create and post the item journal to add items that increase the value of the fixed asset or inventory item. Because site is mandatory in the product dimension, set up default order settings in advance to auto-populate the price, site, and warehouse. |
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|
Post item journal (Work order) |
Rental service coordinator |
Post the previously created item journal to register item consumption on the work order. |