Tracking Service Costs on Rental Hire Items to the P & L

When using Rental Hire and if you want to see the associated servicing costs reflected in your Profit and Loss reports this can be done.

Setup

Set up the Rental Hire item in your Customer Items module. These should belong to the Customer Account for your company.

Rental Hire Item

Customer Item, note the Customer ID is the Rental Hire number

There is also a General Ledger code set up for Hire Equipment Maintenance

Set up a Product Code linked to this General Leger account.

This code should not track quantities or allow discounts

Servicing - Jobs

When the Rental Hire item requires any servicing, create  job and select the Customer Item.

Carry out the job as usual, adding parts and labour as required.

When the job is complete add in the Product Code for the Hire Equipment Servicing as a negative quantity. This will leave the job with a zero value.

The price level can be changed or you can leave at full retail - this is a question for your Accountant to advise on.

The value of the HES line is then added to the General Ledger code for Hire Equipment Servicing

You can then see this on the P & L Reports

Rental Hire Item

I would then recommend going back to the Hire Item and adding in the value of the service into the Servicing Costs box.  Remembering that they should be GST Exclusive.