Asset Repair

An Asset Repair records a breakdown and what was done about it: failure date, downtime, description, the stock parts consumed and the repair cost. By default it is only a record and posts nothing, with the repair bill itself expensed through the supplier's Purchase Invoice. If Capitalize Repair Cost is ticked, because the repair extends the asset's life or improves it, submitting the repair debits the fixed asset account and credits the repair expense account and Stock In Hand for parts, and the depreciation schedule is extended. The demo laptop screen replacement of Rs 8,000 was an ordinary repair, expensed and logged, not capitalised.

Capitalised repair adds to cost: New net book value = Old net book value + repair cost + parts consumed

1. 01Record the supplier's bill first: Buying > Purchase Invoice to Repairs and Maintenance - YFF.
2. 02Go to Assets > Asset Repair > New and pick the asset.
3. 03Enter failure date, completion date, downtime and the repair description.
4. 04Enter the repair cost and add any stock parts consumed.
5. 05Tick Capitalize Repair Cost only if the repair extends the useful life.
6. 06Submit. With capitalisation the entry below posts; otherwise only the log is saved.

Create under Assets > Asset Repair for breakdowns. Submitted repairs lock.

Rs 8,000 screen replacement on the Dell laptop, expensed through the supplier's Purchase Invoice and logged here.