RTO Pro Help File

Glossary

Glossary

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Glossary

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Below are terms found in RTO Pro and their definition, click on the plus symbol to see the definition.

 

hmtoggle_plus1ACH Payments

ACH stands for "Automated Clearing House (ACH) Network". ACH is integrated in RTO Pro. Any of your customers with a checking or savings account can pay their payments either on a recurring basis automatically through ACH, or ACH can also be used to pay payments as a 1 time payment. To get setup to use ACH in RTO Pro call 800-351-6299.

 

hmtoggle_plus1ALL AGENTS

"ALL AGENTS" is a special inventory depreciation agent that can be used to depreciate all inventory on 1 report. This is useful if you want to depreciate all inventory the same and you want to use the inventory agent field to track vendor, supplier etc.

 

hmtoggle_plus1APU

Average rent per unit. The APU is the amount of rent collected over a given time (usually monthly) divided by the number of items on rent.

 

hmtoggle_plus1Billed

This is a field in contracts in RTO Pro that determines if the customer is mailed an invoice monthly for the agreement. Any agreement can be billed or invoiced automatically by setting this field to yes when loading the agreement. You print invoices for groups of customers or all customers from Billing Customer Menu option 7. You can also print individual invoices from the payment or on screen account manager screens.

 

hmtoggle_plus1BOR

BOR stands for "balance on rent", what it actually means is the # of items on rent that you chose to count as BOR. When you receive inventory if you set BOR to YES and rent it out it would count as 1 BOR on reports.

 

hmtoggle_plus1Club program

The Preferred Customer Club administered by Nationwide Club Administrators, Inc. (NCA) is a Personalized Customer Retention Program and a New Profit Center to boost revenue and increase profits. For more information about NCA and the Preferred Customer Club call 800-771-2582. Club features for NCA are built into RTO Pro.

 

hmtoggle_plus1DWF GRP LDW

These are all initials for Damage Waiver, "Damage Waiver Fee", "Loss Damage Waiver" and "Guaranteed Replacement Plan". These fees can be charged and collected in RTO Pro. Generally these fees would waive the customers liability to finish paying for merchandise if it is stolen or lost in fire, etc. Check your state laws before charging fees such as this, some states do not allow Damage Waiver fees or require some kind of registration with the state before you can charge them.

 

hmtoggle_plus1EPO

This stands for Early Payoff. The Early Payoff in RTO Pro (F8 from Payment Screen) includes tax and any other charges due. If the contract is eligible for an early payoff discount the discount is not given on any back rent due. So if they are 1 week behind the EPO would be 1 full payment + remaining balance X discount + Tax + other charges due.

 

hmtoggle_plus1Floor Plan Agent

Floor plan agent is to separate inventory for depreciation purposes or for inventory that is floor planned or financed by outside parties. If you wish to depreciate all inventory together you can also add a special agent named "ALL AGENTS". If you use ALL AGENTS for depreciation then you could use the inventory agent field for supplier or vendor.

 

hmtoggle_plus1Non-Serialized inventory

Non-Serialized inventory is inventory that is not tracked individually, only the count is tracked in RTO Pro. Think of it like cans of soup at Wal-Mart, they don't track where each can is or who any particular can was sold to, only how many cans were sold and how many they have left. Non-Serialized inventory is not depreciated, you get cost of Non-Serialized from the Non-Serialized Cost of Sale report. Some stores expense Non-Serialized inventory cost at the time it is received. Generally inventory that is to be rented should not be loaded as Non-Serialized. If you have inventory that does not have a serial #, such as bedding, if you are planning to rent it out you should assign each piece or set a serial #.

 

hmtoggle_plus1Purchase Order Inventory

The purchase order inventory feature in RTO Pro allows you to load or pre-load a PO inventory item on an agreement. This will create a PO inventory list that can then be ordered through RTO Pro or home office if you use the RTO Pro Home Office.When the item ordered comes in you receive against the PO item and the real inventory replaces the PO item on the contract automatically. This feature is useful when you have a customer who wants to special order something and you want to load the agreement and take a down payment at the time of the order.

 

hmtoggle_plus1Rating / Status

Customer ratings and status are a way to mark customers for how well they pay or for status of their application etc. Customer list reports, form letters and labels can be run to include or exclude any rating. The description of the ratings can be setup in Store Setup under the "Other" tab. The internal values are from 0-9, the description of the rating/status can be set to whatever you like.

 

hmtoggle_plus1RBV / Balance on inventory

This stands for Remaining Book Value. It is the inventory cost - depreciation that has been claimed on it. In RTO Pro this is tracked for Tax and Book purposes. For instance if an item cost $200 and you have claimed $25.00 of depreciation for Tax purposes and $10.00 for Book purposes the RBV Tax would be $175.00 and RBV Book would be $190.00.

 

hmtoggle_plus1Autopay / Recurring billing / AutoCharge

This is when a customer's payment is automatically charged to a credit card or ACH every month/week. When Autopay is setup for a customer, the credit card saved for the customer will be charged or if they pay by ACH the ACH transaction will be processed and their payment will be entered in RTO Pro automatically when it is time to process it. To use this feature you have to use X-Charge for credit card processing or for ACH you must have an ACH account setup through RTO Pro. For more info about X-Charge or ACH call 800-351-6299.

 

hmtoggle_plus1Rental / Retail inventory

When inventory is received as "retail" inventory and rented out it is automatically changed to rental type. If you receive inventory as "rental" it will show as idle BOR as soon as it is received, if it is received as "retail" it will not show as idle until after it is rented and returned.

 

hmtoggle_plus1RTO Pro Word Processor

The RTO Pro Word Processor is built into RTO Pro and is used to edit letters, contracts, invoices and other forms in RTO Pro. You edit contracts in Printer Setup and you edit letters from the "Edit Letters" function (Customer Menu option 5). The RTO Pro Word Processor is a WYSIWYG (What you see is what you get) word processor similar to Microsoft Word.

 

hmtoggle_plus1Stock Number

A stock number is an optional identification number for inventory. It is usually an internally company generated number to identify the inventory piece. It can be up to 15 characters and must be numeric characters only (0-9).

 

hmtoggle_plus1Tax Zones

Tax Zones are used to handle sales tax in destination based tax states. Destination based tax is where you collect tax based on where the customer lives or where merchandise is delivered instead of where the store is located. You setup tax zones in Store Setup under the Sales Tax tab.

 

hmtoggle_plus1X-Charge

X-Charge is the credit card processing software that is integrated with RTO Pro. If you use X-Charge and take a credit card payment in RTO Pro the credit card is processed right through RTO Pro and your computer, you do not need to have expensive credit card terminals. For more info call 800-351-6299.

 

hmtoggle_plus1Zones, Customer

Zones are used in RTO Pro to split customer into different areas or routes. This is usually used to separate customers for multiple account managers. Various reports can be ran to only include customers in a specific zone so this can be used for any reason you want to split customers into groups. This is not the same as "Tax Zones".

 

 

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