Discover the Best Rent Invoice Format for Inventory Management

Rent invoice format for Inventory

welcome in this video we'll be discussing the new rental inventory tracker Excel template this is a free Excel template from inzara.com if you are a business owner of a rental business where you rent equipment or items to your customers then you will find this template useful to track inventory so this template can help you know how many items are being rented out already and how many items are currently in stock you can also determine how many items will be expected in the inventory in the future based on future dated rental contracts or rental orders you can use this template for any type of rental business whether it's renting Furniture renting wedding items or even lending books in a library now in this video we will see how the template works and I will be using the template filled in with some sample data so that we can illustrate the features of this template so this is our Excel template where I am in the home sheet which is the beginning sheet which has the list of instructions very very simple templates so very simple instructions and then we can go to the assets sheet this is where I have already entered a few sample assets so I have chairs and desks and tables and I have entered the number of items that we have for each of those assets so for example in our business we have 25 bamboo chairs 20 desks and 10 round coffee tables and so on and the calculations here the last two columns are automatic they will calculate how many items have been rented out and how many are currently in stock and at the top you have the total number of items and total rented out and totals in stock when you begin using the template where you haven't entered any assets then these things will be zero but these things will be updated based on what we will be entering in the orders sheet so let's go to the order sheet in this sheet we have this table where we will be entering each rental order or rental contract that we have from our customers so for example order number one on May 1st 2016 we received an order for renting two bamboo chairs and they wanted the specific set of chairs to be rented out from 15th May and they will return it back to us on 20th May so that is the specific rental order for um order number one and order number three for example there are two sets of assets so they need three round coffee tables and four rectangular tables and they they have different rent out and return dates but they also could have the same rent out and return dates and so each and every order we will list all the details here and then the last column you can use it to track any Communications with the customer or contact information for the customer their phone number or email address or other things and you can add more columns by typing in another field name here in H7 and then you'll create a new column so you can keep adding new columns to store any information that you want about the orders or the customers the top section here is the availability check section where you can choose a specific asset and then put in the rent out date and return date and the template will calculate how many items are available to rent for example in this case this specific order for rectangular tables from 15th July to 21st July is what I have put in here and the template says we don't have enough inventory to fulfill that specific order and so what we um should be doing in this case is to not take up the specific order because you will not be able to fulfill this order and instead you can negotiate or bring this number down for example if you're only renting out two even after renting out two you will still have three left so this is positive numbers which means that for the specific window you have enough inventory but if I want to rent out five I will be running out of inventory but I will still be able to manage this specific order if I go beyond that you will not have enough inventory so generally you can check the availability and then commit to an order with a customer so that that so that you are not committing to something which you will not be able to deliver on and similarly let's choose another set of examples so let's say I want round coffee tables and in this case I'm saying first July first July to 15th or fifth August so this is the specific window that I want to be able to fulfill and even after fulfilling this I'll still be able to have more inventory which means that I'm okay with this order so generally keep in mind that the inventory available calculation is assuming that all these orders will be fulfilled so that is how this calculation is done in addition to checking for availability for one asset you can also use the calendar sheet where you can see up to 25 assets and then you can see up to 31 days of availability in this case you can control the beginning date for example if I want this to be beginning of July I just type that in the start date and then everything gets updated and here you have two options I am showing the available quantity how many units of each of these assets will be available on the specific dates in the future and the rented option is actually how many will be rented out at the only specific days and so you can have both views and when you choose available if the you see red colored cells which means that you don't have enough inventory because they are negative numbers so very very clearly and quickly you will be able to see whether you have any problems with your inventory to fulfill all the rental orders that you have entered in the orders sheet and that's pretty much all you have in the sheet it's very very simple and effective and you can expand this Beyond 25 assets by going to the review sheet and protecting using the password in Zara and then you can extend this specific cell let me just do this quickly so once you unprotect you will see a little arrow here and then you can just do this and expand to more assets if in your case if you have more assets so that's how simple it is and let me go back to the auto sheet to show you a couple more things here if you are interested in looking at details of only one order you can use this filter option and these are default within Excel if you're familiar with the table Excel tables then you will be able to use all these features to select one order at a time I can only see order number two at this time if I want to so the filtering capability is there if you want to know which items are due returning today then you can go and say show me the specific date and then it'll be able to give me all those which are returning on August 7th for example so you can use the filter option here you can sort based on the order date and things like that so the basic functionality within Excel tables is available to us to use just to recap this template is useful for tracking inventory in a rental type of business where you are renting items to your customers between specific dates and then at the end of that window the inventory comes back or the item comes back to your inventory then you can use this to know whether you have enough inventory to fulfill a rental order and also at any point of time know how many units have been rented out and how many units are available in in your stock in the assets sheet as we saw this is where you can see the current status of how many have been rented out and how many are in stock on August 5th this is the current status so this is how you can use this template if you have any questions about how this template works or any of the features please leave me a comment I'll be very glad to answer any of the questions that we may have thank you very much for watching this video