Tracking Expenses against a Fixed Asset

Rachel Whitehouse
Rachel Whitehouse Member Posts: 14 Novice Member Novice Member
edited October 11 in Accounts Hosted
I have set up my Fixed Assets and would like to track the expenses (such as repairs and maintenance) against them. Any ideas?

Comments

  • Sue Atkinson
    Sue Atkinson Member Posts: 26 Novice Member Novice Member
    edited August 2016
    Rachel,
    I would just add an expense set for each asset to track the expenses for each.  So, have one header expense eg/ Motor Vehicle (Rego Nr) then sub expenses for it such as insurance, R&M, Fuel etc.  That is what I have seen done before. 
    Sue Atkinson
  • Unknown
    edited August 2019
    This content has been removed.
  • Jacqui Allen
    Jacqui Allen Member Posts: 239 Reckoner Reckoner
    edited August 2016
    I fully understand why you'd want to keep track of r&m on assets particularly if they are hired out. and yes use class rather than a new expense account else you could set up a customer ie in-house costing with job for each asset and use job costing, non billable of course
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