Application Overview
The Equipment Accounting System compares and tracks all of your fixed assets along with their location, maintenance and cost recovery. All of this is performed in a system fully integrated within the eCMS suite, so there is never a need for duplicate entry.
The Equipment Accounting System compares and tracks:
- Operating cost versus repair cost
- Physical location tracking
- Scheduled maintenance
- Cost recovery
- Fixed assets
System Transactions
Transactions entered through the payroll, inventory, accounts payable, and equipment applications can be edited within Equipment Management. After transactions have been edited, the system updates the job cost, time and material, general ledger, and equipment records.
Automatic Integration
The Equipment Accounting System is fully integrated with:
The Equipment Accounting Management integration between applications saves users valuable time and money. Equipment usage and repair hours can be entered through the Payroll application. Usage hours automatically generate transactions that allocate equipment costs to job cost, time and material billing, and general ledger. Repair hours are used to accumulate repair cost by piece of equipment, and can also be charged to the job when appropriate.
Equipment Charge Rates
The ability to set up each piece of your company's equipment with multiple rates for charging costs to jobs gives you greater freedom. Equipment exception rates can be entered for each job and piece of equipment. Rates may depend on the amount of maintenance required on equipment for a particular job. Override rates during entry of equipment time are also provided. Equipment charge rates are then established and tracked by user defined components. These user-defined components could include: labor, engine parts, fuel, oil and grease, tires, outside labor, miscellaneous parts, GET (Ground Engaging Tools), insurance, and depreciation. Actual equipment costs are tracked for each rate component to assist in verifying rate accuracy.
Fixed Asset Depreciation
The Fixed Asset Register lists fixed assets by class and contains:
- Capitalized value
- Accumulated data
- Depreciation this year
- Book value and tax value (up to eight categories) for each piece of equipment
All of the standard depreciation rates are provided, including depreciation based on usage, as well as providing the ability to define additional methods for internal calculations. The Fixed Asset Register can be run for all assets, or only those acquired or disposed of in the current fiscal year.
Comprehensive Management Reports
Equipment management reports compare actual equipment costs to the operating revenue. Reports show actual hourly costs and highlight variances between actual costs and operating rates. Additional reports let users view detailed equipment repair costs and gallons of fuel used.
Functions such as Locator Inquiry furnish information on equipment location and availability by equipment class, employee and job assignment and all maintenance categories for detailed tracking. Along with useful tools, such as the Maintenance Due report, these reports paint an exhaustive picture of your assets and their obligations.
The Maintenance Due Report lists all pieces of equipment that require maintenance. Maintenance frequency is tracked by hours, days, or miles. Hours or miles accumulated are automatically updated by equipment entries in the Payroll and Equipment Accounting Systems. |
