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Cost Pools allow you to set up Rates and Allocation methods for costs related to Equipment. Once Configured, you can add or edit multiple Equipment Categories to link to each Cost Pool. The cost allocation for each pool can be set up in one of three ways, as described below.
Equipment Allocation Method Options:
- Custodian Work Hours - Equipment will be allocated by the Rate entered based on hours an Employee who is assigned that Equipment item enters on their Timesheet for the duration that they are assigned the item.
- Equipment Assignment Duration - Equipment will be allocated by the duration the Equipment item is assigned to a particular employee for all working days. Total amount is determined and allocated when the Equipment item is returned.
- Actual Equipment Usage - Equipment will be allocated by the actual usage entered on the Employee's profile in the Equipment tab or from an Emplpyee's Progress Report when the Equipment Item is assigned to that Project.
IMPORTANT: When the third option is selected, Equipment Items linked to any Category that this Cost Pool is associated with will allow assignment of the Item to a Project in addition to an Employee. These Equipment Items may then be tracked on an Employee's daily Progress Report within a Project (RedTeam web and FieldShare app).
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Configuration Menu > Accounting > Cost Pools
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From Configuration, select "Cost Pools" See Figure 1.
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Click the New (+) icon See Figure 2.
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Enter a Description for the Cost Pool to be linked to one or more Equipment Categories later (eg. "Power Tools" or "Bulldozers")
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Select an Equipment Allocation Method (see narrative above for descriptions of each option) See Figure 3.
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Enter the Unit of Measure (if Actual Equipment Usage), Rate, and Year for which this Rate applies
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Click "Save"
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Figure 1,
From the Configuration section, click "Cost Pools" under the "Accounting" heading
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Figure 2,
Click to add a new cost pool
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Figure 2,
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Figure 3,
In this example, "Actual Equipment Usage" is selected and will be able to be tracked on a Project
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Figure 3,
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Figure 3,
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Transaction Last Updated 02/22/2021 @ 18:28 |
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