Hey Guys I need your help. I’m a IT manager for a company that works with heavy equipment and I have the responsability to find a new tool/app/software that helps the director and the owner to check the information of every machine.
In the company we have excavators,forklifts,tractors,backhoes,trailers, etc. each machine represent an account that have incomes (money that we get for rents or services) and expenses (maintenance, spare parts). My question before presenting Manager to the director is if Manager can help me getting the information of the balance of every machine, or the balance of a client (for machine and in total), or a list of expenses for machine (diesel, spare parts, salaries,etc), you know every report that would help the owner to decide if we sold or keep machinery.
thanks in advance!
Heavy equipment would normally be set up as fixed assets, for which Manager will monitor depreciation, current book value, etc. See these Guides as starters:
But fixed asset accounting doesn’t tell you how much it costs to run a machine or whether it’s profitable as a rental property. For that, you might try tracking codes. You would essentially be treating the expenses and revenues associated with each piece of machinery as a division of the company, and you could get Profit and Loss Statements for each. See:
You can get more sophisticated with custom control accounts, special accounts, and so on, depending on exactly what kind of information your managers want. I recommend creating a little test business and entering some machinery, then put in some representative transactions associated with the way you do business. Explore the reports and see if they fit your needs.
Tut has said it all, use tracking codes. To record all incomes and expenses associated with the assets.
Thanks a lot, I think that’s exactly what they are looking for. We are a big company run by a few employees and this would be a huge help.
Hi. I’m doing it in a separate “Biz” file: Equipment
Each piece of my machinery is a “Customer”… e.d BD05 - CAT D6
Now you can manage all associated cost such as fuel: repairs etc’
@Giora Are you just using the separate business file as a way of tracking this information, with no intention of using that particular business in Manager for accounting purposes? Interesting approach!
Someone is paying me back for a large loan I gave them a couple years ago. It had occurred to me that I could set up a separate business in Manager to track this as well.
There are certain benefits (e.g. generating a transaction statement PDF) that a standard spreadsheet wouldn’t do quite as well.
Manager is so flexible, that in some cases it can be perfectly suited to a non-accounting task!
Exactly. I’m not an accountant but a Civil Engineer who manage Infrastructure project using Manager to track/mange project accounting.
Project accounting is different form pure (double) accounting.
Yes - its works great.