Maintenance expenses are routine periodic costs that are charged to preserve the value of fixed assets. Unlike capital improvements, maintenance expenses do not increase the value of assets.
On the fixed asset card, on the Maintenance FastTab, you can set up maintenance information for the fixed asset. To access and enter maintenance information for a fixed asset, follow these steps:
Select the Search for page icon in the upper-right corner of the page, enter fixed assets, and then select the related link.
Select the No. field for the asset that you want to enter.
On the Maintenance FastTab, fill in the fields as follows:
Vendor No. - The number of the vendor who supplied the fixed asset.
Maintenance Vendor No. - The number of the vendor who usually performs maintenance for the asset.
Under Maintenance - Turn on this option if you want to indicate that the fixed asset is currently under maintenance. You can use this information as a filter on reports.
Next Service Date - The date of the next scheduled service. This information can also be used as a filter on reports.
Warranty Date - The date on which the asset's warranty expires.
Insured - This field is set to Yes for the insured fixed assets (for which the insurance entries were created and posted to an insurance account from a purchase invoice, credit memo, or journal line). You can select the link in the field to view the insurance ledger entries.
The information on the Maintenance FastTab is often used to filter reports and lists, meaning that you can update these fields whenever you want. Tracking this information is optional.