There may be times when tools are neither CHECKED OUT or AVAILABLE (e.g. being repaired, on loan to another department, lost, in storage, etc.). To better track the whereabouts of the tools, you may want to establish various tool status codes. As mentioned previously, any one-character code from 1-9 or A-Z may be used for the status. However, three status codes are predefined—A=Available, O=Checked out, and R=Out for repair. Be consistent when using your own status codes because they will not be validated. For example, if S=Sold, make sure S is not also used for "Seasonal, in storage." Two tool reports by status are available in Tool Checkout (refer to Chapter 3—"Tool Reports") to help locate tools.
When a tool is checked out, the status is automatically changed to O (checked out). When a tool is checked in, the status is automatically changed to A (available).