Asset Repair
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Imagine a Nova Industries inspection camera stops working. The team sends it to a repair vendor, pays for replacement parts, and receives it back three days later. The company needs to track the downtime and cost, and it must decide whether the repair is an expense or increases the asset’s value.
Asset Repair records the failure, repair work, cost, and completion. It also connects qualifying capital repair costs to the asset when they extend its useful life or improve its capacity.
Create an Asset Repair
Section titled “Create an Asset Repair”- Select the Asset and failure date.
- Enter a clear description of the failure.
- Save with status Pending while work is in progress.
- Add supplier invoices or consumed stock items where applicable.
- Record actions performed and completion date.
Record cost and capitalization
Section titled “Record cost and capitalization”Routine repair is normally an expense. Enable Capitalize Repair Cost only when the cost meets the organization’s capitalization policy and increases future economic benefit. If the repair extends useful life, enter the increase in asset life and review the depreciation schedule.
Complete and verify
Section titled “Complete and verify”Set the repair to Completed, confirm downtime, and open the Asset. A pending failure can place the asset out of order; completion should restore the correct operating state.
Troubleshooting
Section titled “Troubleshooting”Repair cost remains zero
Section titled “Repair cost remains zero”Link the relevant Purchase Invoices or consumed items and confirm their rates and amounts.
The Asset remains Out of Order
Section titled “The Asset remains Out of Order”Complete the repair and verify no other active repair keeps the asset unavailable.
Capitalization did not update the schedule
Section titled “Capitalization did not update the schedule”Confirm the repair was submitted with capitalization enabled and review the linked value and schedule documents.
Frequently asked questions
Section titled “Frequently asked questions”Should every repair be capitalized?
Section titled “Should every repair be capitalized?”In Bravo Hub ERP, no. Capitalize only costs that meet the accounting policy. Routine repairs are usually expenses.
Can repair consume stock items?
Section titled “Can repair consume stock items?”In Bravo Hub ERP, yes. Add consumed parts so their cost is included and inventory is reduced through the supported workflow.
Does Asset Repair replace maintenance logs?
Section titled “Does Asset Repair replace maintenance logs?”In Bravo Hub ERP, no. Maintenance logs record planned work. Repair records a failure and its financial or operational recovery.