Pallet audit glossary: pooled pallet terms in plain English

Issues, transfers, declarations, daily hire, non-participants, LPNs and more: the words on a pallet statement, explained.

Accounts and movements

Pooled (rental) pallet: a pallet owned by a pallet company (CHEP, PECO, iGPS) that you pay to use.
Issue: empty pallets delivered to you by the pallet company. Starts your responsibility for them.
Transfer (out): pallets you hand to a customer, reported to the pallet company. Also called a declaration.
Transfer in: pallets a supplier reports as sent to you. They land on your balance.
Return (or dehire): pallets you send back to the pallet company.
Correction: a change to a transaction already reported, such as a wrong quantity.
Balance: the pallets the pallet company says you hold: opening balance plus issues and transfers in, minus transfers out and returns.

Issue fee: a charge per pallet issued to you.
Daily hire (rent): a charge per pallet per day while it's on your balance.
Pallet-days: pallets times days on your balance; what daily hire is calculated on.
Lost equipment charge: a charge for pallets the account shows but nobody can find. Fees vary by contract.

Participating distributor: a receiver that takes part in the pool and returns pallets through it.
Non-participating distributor: a receiver that doesn't, so pooled pallets sent there usually don't come back.
Whitewood: a pallet you buy and own (often a GMA or CBA spec 48x40), not a rental.
Pallet exchange: swapping empty pallets for loaded ones at delivery; many receivers don't run one.
Block vs stringer: block pallets have blocks between the deck boards (true four-way entry); stringer pallets have long boards.
Half pallet: a smaller pooled pallet (CHEP 40x24, PECO 48x20), tracked as its own equipment.

BOL: bill of lading, the shipping document for a load; the best reference to declare with.
ASN: advance ship notice from a supplier.
LPN (license plate): the ID on a pallet or container in your WMS; often the closest thing to a pallet count.
SSCC: the 18-digit GS1 pallet label number. Keep it as text in Excel.
Physical count: the pallets you actually counted, by area and type, at a set cut-off time.

PalletAudits matches every shipment to a declared transfer and lists what to declare, dispute and recount. Your first audit is free.

General information, not advice about any specific contract. Your agreement with the pallet company sets the actual fees and deadlines.