Equipment is costly. Yet, it is inevitable to expose it to the risk of breakage or loss because it is meant to be used and borrowed. To mitigate this risk to the inventory list, companies often draft up an equipment sample sign out sheet.
Equipment sign out sheet is one of the essential business forms that track the ins and outs of the items in the inventory of the company. Through its proper channel of scheduling, it offers a neat and organized way to monitor your equipment, which is a vital strategy to reduce cost and avoid the expensive process of reclaiming and reordering lost and broken equipment.
If you think that it is high time for your company or organization to have equipment sign out sheet, then take note of the following vital elements to make your own sign out sheet complete with information and effective in executing its tracking purpose:
1. Company/Organization: An equipment sign out sheet must contain key information about your company or organization. The company or organization name, business address, contact number, and other details that make it easier for the borrower to keep in touch if they will have any concerns regarding the equipment. A logo may also be appended for your sign out sheet to be easily identifiable.
2. Borrower: The borrower should be made to fill out his or her personal key information. The complete name, contact information, and signature are three of the most common types of information that is seen in equipment sign out sheet.
3. Equipment Information: The equipment information of your sign out sheet indicates the name of the equipment, its serial or identification number if there are any, the quantity being borrowed, and any other relevant information that will help you identify and track the item.
4. Due Details: This pertains to the relevant time information of the borrowing, such as the date and time the equipment was borrowed and will be returned. The due details may also indicate the underlying time conditions for the equipment’s usage, like if it is prohibited for it to be used beyond office hours or over the weekend.
5. Terms and Condition: The terms and condition lays out the rental agreement of the equipment between the company and the borrower. It includes the terms regarding the usage of the item and the actions incurred when it becomes lost or damaged. Aside from that, this part also indicates if there are any fees involved in the rental as well as penalty payments should it be returned past the due date.
Various formats and layouts exist for an equipment sign out sheet depending on the type and the company. The steps below allows you to make a basic but professional-looking sheet that is usable across a variety of media and usage.
1. Start with the sign-out sheet header: At the topmost part of your equipment, indicate your company name, company logo, address, and contact details. These are actually the types of information you usually find on any company letterhead. So if you already have a letterhead, then all you need is to place it on top of the sign-out sheet document.
2. Have a block of space for the borrower’s information: Few spaces below your header, create a section where your borrower can fill out their name and contact information. Put in lines where the borrower can fill these out.
3. Create a section for the due details: Following the block of space for the borrower’s information is another section where the due details will be filled out. Pieces of information that can be seen here are the check out date, return date, late fees imposed, and the personnel assigned in checking out the equipment.
4. Create your equipment sign out sheet table: This table is where your borrower will list down the items that he or she will be borrowing. Using your preferred inventory spreadsheet program, create a table with four columns and at least five rows. The first column will be titled Equipment, the second will be Asset Number, the third will be Condition, and the fourth will be Remarks. Number every row for easy itemization.
4. Have another block of space for certification: Below the table, designate a text block where the borrower can affix his or her signature and the date he or she borrowed the equipment. Also, create lines as blanks for borrowers to fill out their information.
5. Add in your terms and conditions: Place your terms and condition at the bottom part of your equipment sign out sheet. Adjust its font size that it’s smaller than the average font size you used for the sheet but big enough for it to still be readable. If your terms and conditions are rather long, then it would be best to print these at the back of the page. Just make sure that you are reminding the borrowers to check the terms and conditions at the back.
Listed below are the different types of equipment sign-out sheets:
Equipment sign-out sheet templates are available as documents following printing sizes of the standard US Legal (8.5 inches by 14 inches), US Letter (8.5 inches by 11 inches), and A4 (8.27 inches by 11.69 inches).
If equipment is returned late, appropriate fees will be imposed. This is to ensure that the borrower will follow the scheduled return date and allow other employees to use the equipment. Just make sure to clearly state your terms of late returns in your terms and conditions section so the employee will be aware of such policy.
Imposing a grace period for the return of your equipment exposes you to various risks. For one, borrowers might abuse the longer time window needed to return the equipment. Instead, they may return the equipment not at the indicated time in their equipment sign out sheet but within the time extension that your grace period provides. This is why it is better to lay out the extension or late fees in your terms and conditions to better take care of your stock inventory.
A complete equipment sign out sheet lists all the important information of the borrower, the borrowed equipment, and the borrowing terms to make sure that the equipment will be handled well and will be returned in good condition. For your important inventory needs, Template.net got you covered with a wide range of ready-made equipment sign out sheet templates that can be easily edited and tailored according to your specific business inventory needs.