Turn each piece of your equipment into its own profit center with AccuBuild’s Equipment module. An effective tool for determining if a single piece of equipment is generating enough income to be profitable, the Equipment system tracks rental income, maintenance costs, indirect costs, hours used, depreciation and more.
The Equipment module collects transactions generated through the Accounts Payable, Accounts Receivable, Orders and Payroll modules and acts as a subsidiary ledger of the General Ledger to record equipment transaction detail.
As equipment information is collected, the AccuBuild Construction Software reporting system is used to analyze the data for profitable decision making. Detailed Equipment reports for costs, income and utilization may be printed at any time for any period and with a variety of options.
Allocating indirect costs to equipment, such as oil and fuel, is also handled through the AccuBuild Construction Software system. Costs that are equipment related, but can’t be easily associated with a specific piece of equipment, can be accumulated in an indirect cost account and later allocated to pieces of equipment based on the percentage of rental expense for the period.
The Equipment module is also an excellent tool for tracking non-rental equipment such as company vehicles, computer equipment and your company’s small tools.
In addition, picture files can be added to the equipment database as part of your insurance records.
The Equipment Cost Utilization Report by Equipment is a summary of all rental income and expenses for each piece of equipment for the given period. This report compares the total hours available (budgeted) for the year to the actual hours rented and also provides an over/under utilization amount. For companies with heavy equipment, this information can help establish more accurate ” in- house” rental rates for charging equipment to jobs. Understanding your true cost of operation can also give you a competitive edge in a tight market by knowing exactly how much it costs to run each piece of equipment.
The Equipment Rental Income by Job Report is a detailed list of all miscellaneous invoices that have been generated for equipment rentals. This report includes the equipment codes, the invoice description, the hours utilized (rented), the rental rate and the total rental income, as well as the Job Cost and General Ledger accounts that the invoices were posted to. A subtotal of the rental income is given by job and by equipment and a grand total of the rental income for the period is also given.
When your equipment is sitting idle, consider renting it out with your own operator to other contractors at the going rate in order to maximize your potential income. Using the Accounts Receivable module, you can create rental invoices for your customers using the rental rate set for each piece of equipment.
The Equipment Depreciation Report displays the detail of the depreciation transactions that have been posted to each piece of equipment. This report is grouped by the equipment category and includes the description of the equipment as well as the book basis and tax basis depreciation information. Totals for prior years and for the current year are provided.