Tracking Expenses against a Fixed Asset

Rachel Whitehouse

I have set up my Fixed Assets and would like to track the expenses (such as repairs and maintenance) against them. Any ideas?

Sue Atkinson

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

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Jacqui Allen

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