TRAX MANUALS > Orders > Orders Switches > LOANDAY - Loan Order Number Of Days To Allow For Packing And Shipping

LOANDAY - Loan Order Number Of Days To Allow For Packing And Shipping

Loan Order Number Of Days To Allow For Packing And Shipping

Affected Window: w_inventory_transaction_return_of_loan

The Config Number indicates the amount of default days to automatically charge against a Loan Order regardless of the amount of days the part is loaned.

Note: This switch does not have Yes/No functionality.

For example, the following Loan Order has a Unit Cost of $1000 and an Initial Fee of $100. Notice that the Days Factor 1 Percentage is 1% for each of the first 10 days the part is loaned.

Once the L/O is authorized, the charges automatically appear on the order print. The order contains a Total cost composed of the Initial Fee plus a formula based on the ordered part's Unit Cost, the order Factor 1 Percentage and the switch's Config Number. The Factor 1 Percentage is multiplied against the Unit Cost and is then multiplied against the switch's Config Number days. The Total is calculated as follows:

Note: If the switch Config Number contains an amount greater than the amount of days listed in the order's Factor 1 %, the amount of days that go over the Factor 1 rate will be applied to the Factor 2 rate. For example, if the switch lists 12 days, the first 10 days would be charged at a Factor of 1% and the remaining 2 days would be charged at a Factor of 1.5%. Therefore, if the Unit Cost and the Initial Fee are the same as in the above order, the Total would be 230.00. (These Factor Percentages and Days are specified in the Loan Order Detail window as displayed above.)

The L/O is then received into inventory.

Once the loaned part is ready to be returned, the Return of Loan must be performed by selecting the Loan RTN button in the Inventory Transaction window. Notice that the Cost is automatically set to 100.00, which is the order's Initial Fee.

Once returned, notice that the G/L is impacted with a charge of 100.00.

The Loan Order Finalization is then performed. For this example, the loaned part was returned/finalized on the same date the order was placed.

Because loan was returned on the same day, extra days were accumulated. Therefore, only the Initial Fee and the automatic 7 days from the switch's Config Number were charged ($70.00).

Note: If the part were loaned out for multiple days, once the loan is finalized the charge would include the switch's automatic 7 days plus the amount of days the part was loaned out. So if the part were loaned for 5 days, a total of 12 days would be charged. In the above example, the first 10 days would apply to the Factor 1 Percentage and the remaining 2 days would apply to the Factor 2 Percentage. For more information refer to the Loan Order Detail, General Tab via the Orders Training Manual.