Asset Agreements - Revision history

Jgreco at 16:59, 5 November 2021

2021-11-05T16:59:21Z

Akail: /* What are Asset Agreements? */

2020-04-20T19:42:28Z

What are Asset Agreements?

Jgullickson: /* Asset Agreement Auto-renewal */

2019-08-22T14:14:27Z

Asset Agreement Auto-renewal

Eschurdak: /* Integration: Creating New Asset Agreements from Your Business System */

2016-11-07T21:23:59Z

Integration: Creating New Asset Agreements from Your Business System

Jwolbert at 03:26, 21 June 2016

2016-06-21T03:26:26Z

Jwolbert at 18:54, 12 May 2016

2016-05-12T18:54:43Z

Yrobinet: /* Technically How Renewal Works */

2015-04-01T20:23:21Z

Technically How Renewal Works

Lsilverman at 18:06, 6 February 2014

2014-02-06T18:06:16Z

Jwolbert: /* Initial Setup of Agreements */

2013-07-22T19:23:01Z

Initial Setup of Agreements

Jwolbert: /* Customer Owned Asset Agreements */

2013-07-22T17:33:14Z

Customer Owned Asset Agreements

@@ Line 19: / Line 19: @@
 *Customer Owned Offsets
-Here is an example of an asset agreements from the site:
+Here is an example of an asset agreement from the site:
 [[Image:Rental_AssetAgreements_Example1.jpg|border|800px]]
@@ Line 27: / Line 27: @@
 To find asset agreements...
 *Navigate to a specific customer.
-*Go down to the Rental section
+*Go down to the Rental section.
-*Find the Other Billing Methods sub-section
+*Find the Other Billing Methods sub-section.
 *This is where the asset agreements are created and/or edited.
@@ Line 37: / Line 37: @@
 *'''Video: [http://www.screencast.com/t/L8690SsVF Asset Agreements Add or Edit]''' (5 minutes)
-NOTE:  Changes to existing asset agreements must be done in Trackabout.  Integration from Accounting systems does not currently support automated editing.  Please contact Trackabout Support if this will create an issue for system administration.
+NOTE:  Changes to existing asset agreements must be done in TrackAbout. Integration from Accounting systems does not currently support automated editing. Please contact TrackAbout Support if this will create an issue for system administration.
 = Customer Owned Asset Agreements =
 The customer-owned Asset Agreements account for the quantity of cylinders that a customer owns and has donated to the distributor’s pool of cylinders in return for no longer having to pay rent for that quantity of cylinders.
-These assets are now treated just like any other asset. Although each customer can have a customer-owned offset, these offsets can only be assigned to customer’s that bill separately. Credits will not accrue for months in which this customer has fewer cylinders on their balance than the number they own. When rental is calculated, any customer owned offsets in place at the end of the rental billing period are used for the entire rental billing period. For monthly rental, this just offsets an equivalent number of assets. For daily rental, the numbers of days in the rental billing period are multiplied by the number of customer owned offsets and the customer gets this many rental days without charge.
+These assets are now treated just like any other asset. Although each customer can have a customer-owned offset, these offsets can only be assigned to customers that bill separately. Credits will not accrue for months in which this customer has fewer cylinders on their balance than the number they own. When rental is calculated, any customer owned offsets in place at the end of the rental billing period are used for the entire rental billing period. For monthly rental, this just offsets an equivalent number of assets. For daily rental, the numbers of days in the rental billing period are multiplied by the number of customer owned offsets and the customer gets this many rental days without charge.
 A customer-owned balance can be altered in one of two ways:
@@ Line 52: / Line 52: @@
 == Customer Owned Asset Agreement Set up ==
-Trackabout has two different ways to track Customer Owned Cylinders.  One is through Customer Owned Asset Agreements.  These are set up like Leases parts
+TrackAbout has two different ways to track Customer Owned Cylinders.  One is through Customer Owned Asset Agreements. These are set up like Leases parts
-'''For Accounting Integration'''  Set them up in the ERP like lease parts and send them over like leases.  Then these lease part will need to be mapped to Customer Owned agreements in Trackabout.
+'''For Accounting Integration'''  Set them up in the ERP like lease parts and send them over like leases. Then these lease part will need to be mapped to Customer Owned agreements in TrackAbout.
-The other way to use the '''Customer Owned Offsets''' configurations in Trackabout, which is still supported but a bit outmoded way for us to track Customer Owneds (CO).  There are two configurations Support will need to set for you if you prefer to use this method:
+The other way to use the '''Customer Owned Offsets''' configurations in TrackAbout, which is still supported but a bit outmoded way for us to track Customer Owned (CO) assets. There are two configurations Support will need to set for you if you prefer to use this method:
-# '''Auto Generated Customer Owned Offset Type:''' Indicates whether the Customer Owned Offsets imported from the accounnting system are generated using Rental Classes or Asset Types.
+# '''Auto Generated Customer Owned Offset Type:''' Indicates whether the Customer Owned Offsets imported from the accounting system are generated using Rental Classes or Asset Types.
 # '''Is Using Customer-Owned Offsets?:''' Indicates whether this client is using Customer-Owned Offsets. (True/False)
@@ Line 110: / Line 110: @@
 * When rental balance > lease items, increase lease items and auto-renew
-TrackAbout will also provide a Custom Report to identify which leases were auto-renewed.  This report should be reviewed monthly prior to running rental invoices to ensure leases will be auto-renewed as expected.
+TrackAbout will also provide a Custom Report to identify which leases were auto-renewed. This report should be reviewed monthly prior to running rental invoices to ensure leases will be auto-renewed as expected.
 =Initial Setup of Agreements=
-'''Typically, initial sale and set up for Asset Agreements are completed out of your Accounting system.  Then the Renewals are completed in Trackabout.'''
+'''Typically, initial sale and set up for Asset Agreements are completed out of your Accounting system. Then the Renewals are completed in TrackAbout.'''
-The data for an asset agreement originates from your existing accounting system.  This data needs to be exported from your existing system and then imported into TrackAbout.  The import process will be done by a TrackAbout representative as a user interface for this process does not currently exist.
+The data for an asset agreement originates from your existing accounting system. This data needs to be exported from your existing system and then imported into TrackAbout. The import process will be done by a TrackAbout representative as a user interface for this process does not currently exist.
 TrackAbout has the ability to create different kinds of asset agreements for different customers.
 Each asset agreement lists different fields that can be set and configured based upon a specific customer.
-TrackAbout can configure the options for asset agreements to complement your current method of handling leases.  The following is a list of the secondary fields that can be used with each of the asset agreements shown above.
+TrackAbout can configure the options for asset agreements to complement your current method of handling leases. The following is a list of the secondary fields that can be used with each of the asset agreements shown above.
 * Customer
 * Start Date
@@ Line 134: / Line 134: @@
 * Agreement Documents
-The original data is exported from your existing system and imported into TrackAbout.  There is currently no user interface to configure these fields, but TrackAbout will handle the import.
+The original data is exported from your existing system and imported into TrackAbout. There is currently no user interface to configure these fields, but TrackAbout will handle the import.
-In the process of setting up different types of lease agreements, TrackAbout can create a word template for the lease agreement customer to sign.  This will simplify the process of setting up lease agreements.
+In the process of setting up different types of lease agreements, TrackAbout can create a Word template for the lease agreement customer to sign. This will simplify the process of setting up lease agreements.
 A single lease agreement can include both Rental Class and Asset Type levels.
@@ Line 148: / Line 148: @@
 = Integration: Creating New Asset Agreements from Your Business System=
-Commonly asset agreements (leases, customer ownerships, cylinder agreements, etc) are sold out of order entry in the business system and then must be setup in the rental system. This process can be automated with TrackAbout. This is done by mapping some product codes (also called item numbers, stock numbers, or part numbers) from the business system to asset agreement types, durations and a list of the rental classes or asset types that it covers.
+Commonly asset agreements (leases, customer ownerships, cylinder agreements, etc.) are sold out of order entry in the business system and then must be setup in the rental system. This process can be automated with TrackAbout. This is done by mapping some product codes (also called item numbers, stock numbers, or part numbers) from the business system to asset agreement types, durations, and a list of the rental classes or asset types that it covers.
 ''An example:''
-) First we setup the mapping of a part number
+) First we setup the mapping of a part number:
 :[[Image:Rental_AccountingAssetAgreementProducts.jpg|border]]
-In this example there is a product code (part number in your business system) called "L12OX200". It is mapped in TrackAbout to indicate that it is
+In this example there is a product code (part number in your business system) called "L12OX200". It is mapped in TrackAbout to indicate that it is:
 *Asset Agreement Type = Lease
 *Duration = 12 months
@@ Line 183: / Line 183: @@
 *Start date = 1/15/2010. Date of the sale in the business system. Usually the ship date.
 :: Note that there is a setting to indicate if the start date is the actual ship date or if the start date is always rolled back to the first day of the month. So this could be set to 1/1/2010 or left as 1/15/2010. It is common to roll the dates back to the start of the month.
-*Quantity = 2. The quantity of L12OX200 delivered in the business system. In this example it is 2
+*Quantity = 2. The quantity of L12OX200 delivered in the business system. In this example, it is 2.
 *Renewal Price = $100. Price on the line sold. In this case $50 each for a total of $100.
-*Notes = Any notes or comments sent over in the integration file
+*Notes = Any notes or comments sent over in the integration file.
@@ Line 198: / Line 198: @@
 * The mappings are setup as "Accounting Asset Agreement Products" in TrackAbout. They can be found in the Rental section of the site or by following this link: https://www.trackabout.com/clt/rental/listAccountingAgreementProducts.aspx
-* "Credits" to leases are not automated in Trackabout.  The credit will need to be conducted in your accounting system and then manually edited in Trackabout to reflect the change to the asset agreement.
+* "Credits" to leases are not automated in TrackAbout. The credit will need to be conducted in your accounting system and then manually edited in TrackAbout to reflect the change to the asset agreement.
 *When creating asset agreements via the API, there are some protections against creating duplicate leases. An asset agreement is considered matching when it has the same customer, agreement number, purchase order number, type, start date, duration, and has an identical line item with the same quantity as an agreement already in the system. If any one of these is different, but the agreement number is the same, a new asset agreement is created.
@@ Line 214: / Line 214: @@
 *Default show Agreements expiring within X number of days in report:
-:Asset Agreements expiring withing these number of days will be displayed by default in the Expiring Asset Agreements report.
+:Asset Agreements expiring within these number of days will be displayed by default in the Expiring Asset Agreements report.
-:Values: A number between 1 and 90
+:Values: A number between 1 and 90.
 *Default for Auto Renew setting during Agreement Import:
 :Indicates the default value for Customer Agrees to Auto Renew that will be used during Asset Agreement import if that field is not present in the imported file.
 [[Category:Rental]]

@@ Line 7: / Line 7: @@
 =What are Asset Agreements?=
-*'''Video: [http://www.screencast.com/t/9l7zZiNu Asset Agreement Types]''' (3 minutes)
+*'''Video: [https://www.youtube.com/watch?v=2mXjdHsqkr0&feature=youtu.be Asset Agreement Types]''' (3 minutes)
 Asset Agreements are an agreement between you and your customer to not charge a customer rent for a specific type and quantity of assets for a specified amount of time. This has the effect of reducing a customer’s monthly rental by the quantity of assets on the asset agreement.

@@ Line 95: / Line 95: @@
 == Asset Agreement Auto-renewal ==
-TrackAbout does not currently support Auto-renewal of Asset Agreements. The Agreements must be manually renewed using the page '''Expiring Asset Agreements'''.
+TrackAbout does support Auto-renewal of Asset Agreements.
-Today the auto-renewal is just a flag that is shown to the user on the renewal web page and report. When the agreement is nearing expiration a user will see this agreement compared to the customer's current balance. One of the fields is the "AutoRenew" field.
+The Agreements can be manually renewed using the page '''Expiring Asset Agreements'''.
 In TrackAbout, the auto-renewal setting is either true or false (1 or 0) depending on whether or not you allow renewal without talking to the customer.
 =Initial Setup of Agreements=

← Older revision		Revision as of 21:23, 7 November 2016
Line 187:		Line 187:

	* "Credits" to leases are not automated in Trackabout. The credit will need to be conducted in your accounting system and then manually edited in Trackabout to reflect the change to the asset agreement.		* "Credits" to leases are not automated in Trackabout. The credit will need to be conducted in your accounting system and then manually edited in Trackabout to reflect the change to the asset agreement.
		+
		+	*When creating asset agreements via the API, there are some protections against creating duplicate leases. An asset agreement is considered matching when it has the same customer, agreement number, purchase order number, type, start date, duration, and has an identical line item with the same quantity as an agreement already in the system. If any one of these is different, but the agreement number is the same, a new asset agreement is created.

	= Asset Agreement Configurations =		= Asset Agreement Configurations =

← Older revision		Revision as of 03:26, 21 June 2016
Line 1:		Line 1:
		+	{{TrackAbout Feature
		+	\|Parent Module=Rental
		+	\|Feature Description=Asset Agreements are an agreement between you and your customer to not charge a customer rent for a specific type and quantity of assets for a specified amount of time.
		+	}}
	[[Rental\|<< Back to Rental Module]]		[[Rental\|<< Back to Rental Module]]
	[[Category: TrackAbout Feature]]		[[Category: TrackAbout Feature]]

← Older revision		Revision as of 20:23, 1 April 2015
Line 87:		Line 87:

	::[[Image:AssetAgreements_RenewalShowingBothAgreements.jpg\|border\|800px]]		::[[Image:AssetAgreements_RenewalShowingBothAgreements.jpg\|border\|800px]]
		+
		+	== Asset Agreement Auto-renewal ==
		+	TrackAbout does not currently support Auto-renewal of Asset Agreements. The Agreements must be manually renewed using the page '''Expiring Asset Agreements'''.
		+
		+	Today the auto-renewal is just a flag that is shown to the user on the renewal web page and report. When the agreement is nearing expiration a user will see this agreement compared to the customer's current balance. One of the fields is the "AutoRenew" field.
		+	In TrackAbout, the auto-renewal setting is either true or false (1 or 0) depending on whether or not you allow renewal without talking to the customer.

	=Initial Setup of Agreements=		=Initial Setup of Agreements=

← Older revision		Revision as of 18:06, 6 February 2014
Line 193:		Line 193:
	*Default for Auto Renew setting during Agreement Import:		*Default for Auto Renew setting during Agreement Import:
	:Indicates the default value for Customer Agrees to Auto Renew that will be used during Asset Agreement import if that field is not present in the imported file.		:Indicates the default value for Customer Agrees to Auto Renew that will be used during Asset Agreement import if that field is not present in the imported file.
		+	[[Category:Rental]]

← Older revision		Revision as of 17:33, 22 July 2013
Line 43:		Line 43:

	One of the many benefits to TrackAbout rental is tracking these customer-owned cylinders. There are some accounting systems that do not track customer owned cylinders at all.		One of the many benefits to TrackAbout rental is tracking these customer-owned cylinders. There are some accounting systems that do not track customer owned cylinders at all.
		+
		+	== Customer Owned Asset Agreement Set up ==
		+
		+	Trackabout has two different ways to track Customer Owned Cylinders. One is through Customer Owned Asset Agreements. These are set up like Leases parts
		+	'''For Accounting Integration''' Set them up in the ERP like lease parts and send them over like leases. Then these lease part will need to be mapped to Customer Owned agreements in Trackabout.
		+
		+	The other way to use the '''Customer Owned Offsets''' configurations in Trackabout, which is still supported but a bit outmoded way for us to track Customer Owneds (CO). There are two configurations Support will need to set for you if you prefer to use this method:
		+	# '''Auto Generated Customer Owned Offset Type:''' Indicates whether the Customer Owned Offsets imported from the accounnting system are generated using Rental Classes or Asset Types.
		+	# '''Is Using Customer-Owned Offsets?:''' Indicates whether this client is using Customer-Owned Offsets. (True/False)

	=Renewing Asset Agreements=		=Renewing Asset Agreements=