Maintenance expenses are routine periodic costs undertaken to preserve the value of fixed assets. Unlike capital improvements, they do not increase values.
For maintenance facilities, you need to set up:
the Maintenance tab of the fixed asset card.
an account number in the FA Posting Groups window.
if you want maintenance costs allocated to departments and/or projects, you must set up an allocation key.
maintenance codes describing what kind of maintenance has been carried out (for example, routine service, repair).
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 is used to adjust values for general price-level changes. The Index Fixed Assets batch job can be used to recalculate the maintenance costs.
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