Once we’ve defined types of equipment, we can itemize units of equipment within those types. Navigate to [g] Equipment, then [a] Equipment Entry.
In our demo data we only have two units of equipment defined.
Click on the Details tab to see the types of information we record for a unit of equipment.
General type of the equipment, as defined in the Equipment Type Entry.
Unique identifier for this unit within the equipment type.
Description of the equipment unit.
This is the company that is the current operator of the unit of equipment. It’s updated automatically when equipment is transferred to a new set of books.
When a unit of equipment is assigned to a job, the job will have an assigned equipment rate type, which is a set of rates for each rate group. This field indicates which rate group within the job’s rate type has the hourly, daily, weekly, monthly, and mileage rates for this equipment unit.
This field gets set when this unit of equipment is transferred to a yard.
These fields gets set when this unit of equipment is transferred to a job.
If the current unit of equipment is one of many, you can further identify it by noting who it’s assigned to. Trucks and laptops are more easily identified by who’s using them than by their make and model.
This field is for recording which of the companies defined in Abio owns this unit of equipment. It will be blank if the equipment is rented.
Standard internal charge (between sets of books within Abio) for 28-day rental.
Transfers for this equipment will initially default to this rate.
Internal charge for 28-day rental on the most recent job. New transfers will default the 28-day rate to the standard 28-day rate for the equipment unit. The actual rate used for the most recent job will be recorded in this field. That rate will be used to determine the amount billed by the owning company to the operating company for the use of this unit of equipment.
If this unit of equipment is rented rather than owned, record the vendor you are renting it from.
Record the rental contract number here.
Record the purchase order issued to rent this equipment.
Enter details about the purchase and disposal of this equipment in these fields.
Abio will generate journal entries to amortize equipment depreciation. Learn more in the Depreciating Equipment lesson.
The date of the most recent depreciation journal entry.
How much of the original cost the unit has depreciated.
You can set up a variety of ways that equipment depreciates. Yearly or monthly, does the equipment depreciate 50% in the first year, and the annual depreciation rate.
Record important dates for this equipment so you can be notified when things need attention. Learn more in the Renewal Alerts lesson.
The date owned equipment was last inspected, insured or licensed.
The next inspection, insurance or licensing date for owned equipment. The Equipment Renewals Report will report any upcoming dates, and can be set up to display automatically when you sign on to Abio if it finds any upcoming renewals.
Indicate if the unit is insured and for how much. This is an input criteria for the Equipment Renewals Report.
If the unit is a motorized vehicle, enter it’s license number here.
These can be entered or changed at any time.
These will be populated from the unit’s most recent timesheet. If you need to, you can use the Override action to enter them here.
One style of equipment billing involves billing when equipment transfers onto and off a job. Rather than billing for each day used, the unit is billed for the period it’s on the job, and it’s on stand by or in use. Some rates also set the billing based on the hours of use. This only comes into play for equipment with a built-in hour meter.
Indicate whether or not this equipment has an hour meter if you need to bill based on equipment transfers and hours used.
This will be continually updated from the most recent transfer or timesheet for this equipment.
This will be the date of the most recent transfer or date for this equipment.
This will be the kilometers as recorded on the most recent transfer for this equipment.
The status of the most recent transfer or timesheet for this equipment. Valid statuses are used, not used, or standby.
This hot link will take you to the most recent transfer for this equipment.
This hot link will take you to the most recent timesheet for this equipment.
You can record a note for this equipment. Please note that Abio uses the convention where the <enter> key moves you to the next field on the screen. If you wish to enter a new line, use <ctrl><enter>.
The second tab on the Equipment Entry screen shows the accumulated revenue and expenses for the unit of equipment.
The Year Opening numbers are populated when the G/L Year end is run.
The Life to Date revenue is updated when an accounts receivable invoice is posted to this equipment.
Labour, repair, fuel, mob/demob and other Life to Date numbers are populated when accounts payable invoices are posted to this equipment with one of the matching cost type.
Net Book Value is updated when the equipment is depreciated with the depreciate action. It’s the purchase price less the accumulated depreciation.
Click on any of the hotlinks to view the invoices or journal entries that account for the values in the fields.