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The Equipment module basically acts as a receiver of transactions generated through the Payables, Receivables, Orders and Payroll modules. The transactions will include payroll costs for equipment rentals, rental income, and direct maintenance costs. These transactions may also be recorded through the Equipment module using the Equipment Journal option. The Equipment module also contains an option for allocating indirect equipment costs for a period to the equipment that was rented in the same period.
| 1. | Posting equipment costs and depreciation - Most of the equipment direct costs will be posted through the Payables and Orders modules but costs can also be posted using the Equipment Journal option. Depreciation expense can only be allocated to a piece of equipment by using the equipment journal. |
| 2. | Allocating indirect costs to the equipment - Costs, such as oil and fuel, that are equipment related but that cannot be easily associated with a specific piece of equipment, can be accumulated in an indirect cost account and then later allocated to each piece of equipment. The allocation to each piece of equipment is based on the percentage of rental expense for the period. |
| 3. | Printing equipment reports - There are currently eight reports available in the Equipment module. Detailed reports of costs, income and utilization may be printed at any time for any period and with a variety of options. |
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