Fixed Asset Maintenance

Maintenance expenses are routine periodic costs undertaken to preserve the value of fixed assets. Unlike capital improvements, they do not increase values.

Setup

For maintenance facilities, you need to set up:

Maintenance and Service Visits

You can record and maintain an up-to-date file on maintenance and service of your fixed assets to have complete maintenance records on a fixed asset easily accessible.

Each time a fixed asset is sent to service, you record all relevant information such as date of service, vendor number and service agent's phone number. Maintenance registration is recorded for each fixed asset from the relevant fixed asset card.

When you receive a maintenance invoice, you can record it in one of the following ways:

If G/L integration has been activated for the depreciation book to which you post, you can use a purchase invoice or an FA G/L journal.

If G/L integration has not been activated for the depreciation book to which you post, you can only use an FA journal.

Indexation

Indexation is used to adjust values for general price-level changes. The Index Fixed Assets batch job can be used to recalculate the maintenance costs.

Related Topics

Setting Up Maintenance Information

Setting up Maintenance Expense Accounts

Setting Up Maintenance Codes

Setting Up Allocation Keys

Recording Service Visits

Following Up On Service Visits

Posting Maintenance Costs from Invoices

Printing Maintenance Costs

Posting Maintenance Costs from FA Journals

Viewing Maintenance Costs

Viewing Maintenance Ledger Entries

Printing Maintenance Ledger Entries

Indexation of Fixed Assets



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