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Creating a Bulk Asset

What is a Bulk Asset?

A Bulk Asset in a rental business is a large-scale asset typically acquired in bulk or in significantly higher quantities. Examples include:

  • Furniture Packages: 100 identical bedroom sets
  • Equipment: A fleet of 50 washing machines
  • Vehicles: A collection of 20 rental cars

Accessing Bulk Asset Creation

To create a Bulk Asset:

  1. Go to the Asset menu and hover over the (…) button in the top right corner.
  2. Select ‘Create Bulk Asset’ from the dropdown.
  3. Alternatively, click on the ‘Create Bulk Asset’ button in the quick action column on the dashboard.

Bulk Asset Details

When creating a bulk asset, provide the following information:

  • Name: Enter the Bulk Asset name.

  • Manufacturer: Specify the Bulk Asset’s manufacturer.

  • Description: Provide a short description of the Bulk Asset (up to 500 words).

  • Asset Identification: Assign a unique tag to identify the Bulk Asset (can be numbers, letters, or a combination).

  • Asset Category: Select from existing categories or create a new one.

    • To add a new category, click the ‘Add New Category’ button below the dropdown.

  • Asset Sub-category: Choose from existing sub-categories or add a new one.

    • To add a new sub-category, click the ‘Add New Sub Category’ button below the dropdown.

  • Purchase Price: Enter the Asset’s purchase price.

  • Vendor: Select from the list of existing vendors.

  • Location: Choose from the list of existing locations.

  • Purchased On: Select the purchase date using the calendar.

  • Applicable Tax Rates: Select from the list of existing tax rates.

  • Publish to Webstore: Check this box to make the asset visible in the webstore.

Rental Rates Setup

Configure rental pricing structures for the bulk asset:

  1. Unit of Measurement: Specify the unit used for rental (e.g., Kilograms, Kilometres, Hours, Days, Pieces, Sets).
  2. Per Unit Rates: Set the rental rate per unit (e.g., 500 per day, 500 per hour).
  3. Tracking Type: Choose from:
    • No Tracking
    • Track Date Range
    • Track Numeric Values

Bulk Quantity Information

Manage and update stock quantities in bulk for efficient inventory control:

  • Stock Quantity: The current amount of the particular item in stock (real-time count of available units).
  • Re-order Quantity: The pre-determined number of items that should be ordered when the stock level reaches a certain point.
  • Low Stock Threshold: The minimum acceptable level of inventory. When stock quantity falls below this threshold, you’ll be notified to reorder.

Specifications

Add additional details and specifications for the Bulk Asset:

  1. Scroll down to the Specifications section.
  2. Click the ‘Add Custom Fields’ button in the top right corner of the section.
  3. Enter the desired custom fields and their values.

Saving the Bulk Asset

To complete the bulk asset creation process:

  1. Review all entered information for accuracy.
  2. Scroll to the top of the page.
  3. Click the ‘Save’ button to create the bulk asset and store the entered details.

For more information on related topics, please refer to the following articles: