Equipment Cost Adjustment

Program/Screen: RAECAT/RAECAT20

Description:

Use this program to adjust the cost of a piece of equipment and affect multiple G/L accounts for the adjustment.

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Navigation
Fields
Function Keys

Navigation

Access this screen by entering in equipment number on the Equipment Cost Adjustment - Launch screen. On this screen, enter the amount of the adjustment to debit, and then enter the offsetting credit accounts and amounts. Enter the credit amounts as negative amounts.

Unique Equipment Cost Adjustment Screens

Equipment Cost Adjustment - Launch

Equipment Cost Adjustment

Fields

Equipment Number

Displays the number of the equipment for which you are entering a cost adjustment.

Category/Class

Displays the ID of the category/classTwo-part classification for individualized and bulk equipment. Rental rates are entered by category/class, and the ID number for bulk items is the category/class ID. to which the equipment belongs.

Acquisition Cost

The cost to acquire this piece of equipment. If you are using the Purchasing application, and you entered and received a purchase order for this equipment, and you have the Allow to update EMCOST field set to Y in control record RARCP3, the receipt cost automatically populates this field.

If additional cost for the equipment is entered during A/P invoice entry, and the Update equipment cost field and the Replace equipment cost field are set to Y in control record IP230P, this acquisition cost is updated to include the additional cost.

If Allow to update EMCOST is set to N, this acquisition cost must be populated either via A/P invoice entry or by making a G/L journal entry. In this scenario, set Update equipment cost in control record IP230P to Y, and in that same control record, set Replace equipment cost to N.

Fair Market Value

Displays the fair market value of the equipment by subtracting depreciation from the replacement value.

Example: You purchased a wet saw for $2,000 five years ago and it was damaged beyond repair. The wet saw has a depreciation life of 10 years (120 months). A similar wet saw today costs $2,500. The destroyed wet saw had 50% (5 years) of its life remaining, so the fair market value equals $2,500 (replacement cost) times 50% (useful life remaining) or $1,250.

Adjustment Amount

Enter the amount of the cost adjustment. If the adjustment is a credit, enter it as a negative number.

G/L Account Number

Enter the number of the G/L account to affect for the offsetting side of the adjustment. If you do not know the number, press F4 to search for it.

Amount

Enter the amount for the offsetting G/L account. If the amount is a credit, enter it as a negative number.

Account Description

Displays the description of the G/L account.

Function Keys

Function Key	Description
F1	Help. Place your cursor in a field and press F1 to access online help for that field. Place your cursor outside of any field, and press F1 to access online help at the program level.
F3	Exit. Exit the page or program.
F4	Search. Place your cursor in a searchable field and press F4 to access a lookup window or more advanced search screen.
F12	Cancel/Previous. Exit the program or move back a screen.