This article explains how to calculate the value of your equipment in Rentman, the steps to follow and the information to enter.
You can calculate the value of your equipment stock by exporting your equipment and making the calculations in Excel or Google Sheets. We advise setting up the current book value of each serial number for more valuable equipment (like mixers or speakers) and the purchase price/list price for cheaper equipment like cables.
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Set up the current book value or purchase price of your equipment
Serialized items
When you add or edit a serial number, you can set up its "Date of purchase", the "Purchase price" and the "Depreciation per month". Rentman will use these data to calculate the current book value for each serial number. "Residual value" refers to the estimated worth of an equipment after it has fully depreciated.
If you don't want to calculate the current book value of your serial numbers, uncheck the "Calculate book value automatically" checkbox and add a fixed "Book value".
Bulk items
When you add or edit an item, physical or virtual combination, you can set up the "Purchase price" for sale items, and "List price" for rental items.
Note: Book value and purchase price is only available if you have Quoting and Invoicing Quoting and Invoicing and Equipment Scheduling Equipment Scheduling PRO.
Export your equipment
Once the above-mentioned fields are correctly set up, select and export all your equipment in an .xlsx file.
Make sure to include the columns "List price" (for rental items), "Purchase price" (for sale items), "Current quantity", and "Book value" (for serialized items) when you export the equipment.
To avoid calculating the value of an item multiple times (both as a single item and inside physical or virtual combinations) you can add the filter "Is item" before exporting the file.
Calculate the value of your stock
You can calculate the value of your serialized items by adding up the "Current Book values" of your serial numbers. For bulk items, you can multiply the "List price" / "Purchase price" by the quantity of that item.
To multiply the values in two columns in Excel or Google Sheets:
- In an empty column type: =product ( )
- Insert in the brackets, separated by a comma, the Quantity and the New price you want to multiply.
You can do this by clicking on the cells. - Press Enter
You can now extend this formula to all the couples in the column by copy-pasting it.
Rentman tip: When you have all your equipment in the .xlsx file, sort it by the "Current book value" column. By doing this, the rows with serial numbers will be separated by the others, and it will be easier for you to do the calculations.