Equipment Depreciation

SOLVED

Hello me again...So I am reading the book for equipment and seeing how our company has equipment set up and wondering about depreciation.  My boss would love to do this on a monthly basis so we can get a true cost to our large equipment but it seems as if we need the fixed asset module (we do not have that).  I see Depreciation is a standard cost code and I know in the but is there a way to post our individual depreciation for each vehicle on a monthly basis (he does this on a yearly basis but that doesn't give us a true cost)?  Can this be automatic ( I see there is automatic entries in the GL side but not equipment side) and does the equipment module talk to the GL so it shows on reports?

Thank you

Colleen

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  • verified answer

    Hi Colleen, Yes you can add a depreciation transaction to each item of Equipment. I have developed Financial Statements for the EQ Equipment module that bring together Income, Variable and Fixed costs and Profit into a Profit Statement format. You can look at the Profit Statement for one or more items of equipment side by side. You can group items of equipment into sub groups (dozers, graders etc) and compare profitability by group as well.

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  • verified answer

    Hi Colleen, Yes you can add a depreciation transaction to each item of Equipment. I have developed Financial Statements for the EQ Equipment module that bring together Income, Variable and Fixed costs and Profit into a Profit Statement format. You can look at the Profit Statement for one or more items of equipment side by side. You can group items of equipment into sub groups (dozers, graders etc) and compare profitability by group as well.

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