Asset Repair refers to any activity carried to repair a broken Asset to restore full functionality.

You also have the capability to manage records of repairs or failures of assets that are not listed in asset maintenance.

To access the Asset Repair list, go to:

Home > Assets > Maintenance > Asset Repair

1. Prerequisites

Before creating and using Asset Repair, it is advised to create the following first:

• Asset

2. How to create an Asset Repair

1. Go to the Asset Repair list, click on New.
2. Select the Asset.
3. Select the Failure Date.
4. Enter the Repair Cost.
5. Save.
6. Change the Repair Status from ‘Pending’ to ‘Completed’, or ‘Canceled’.
7. Select a Purchase Invoice if Repair Cost is greater than zero.
8. Save and Submit.

Note: Alternatively, you could open the record for the Asset in question and click on the Repair Asset button under Manage, and then follow steps 3-8.

2.1 Additional options when creating an Asset Repair

• Capitalize Repair Cost: If selected, the repair cost will be included in the asset’s value, potentially extending its useful life.
• Increase In Asset Life (Months): Enter the number of months by which the asset’s life may be prolonged due to the repair. This adjustment will affect the asset’s depreciation schedule. This field is visible only if Capitalize Repair Cost is selected.
• Stock Consumed During Repair: By checking this option, you can document all stock items utilized during the repair process.
• Warehouse: Specify the warehouse from which the stock items used during the repair were sourced, if Stock Consumed During Repair is selected.
• Stock Items: Input the stock items utilized during the repair process here. This action will generate a stock entry record of type Material Issue for each item, reducing their quantity. General ledger entries will also be generated for each item in the list. This section is visible only if Stock Consumed During Repair is selected. For serialized items, expand the item row to access the Add Serial No button.
• Error Description: Provide a comprehensive description of the issue or problem encountered.
• Actions Performed: Document a step-by-step account of the actions carried out to execute the repair.

3. Features

3.1 Accounting Dimensions

Accounting Dimensions let you tag transactions based on a specific Territory, Branch, Customer, etc. This helps in viewing accounting statements separately based on the selected dimension(s). To know more, check help on Accounting Dimensions feature.

Note: Project and Cost Center are treated as dimensions by default.

3.2 Purchase Invoice

A purchase invoice can be associated with the asset repair to track any items or services procured for the repair process.

3.3 Total Repair Cost

If “Stock Consumed During Repair” is selected, the Total Repair Cost will be calculated by considering the value of the consumed Stock Items along with the entered Repair Cost.

4. Related Topics

1. Asset Maintenance
2. Asset Value Adjustment