Repairs and Maintenance Regs for Fixed Assets
Is your company taking advantage of the IRS Tangible Property Regulations for repairs and maintenance? How do you know? Are the people required to maintain your equipment doing their job to update the accounting and tax department on all repair and maintenance history? In 2014 the IRS allowed companies to expense certain repairs and maintenance rather than capitalize allowing companies a significant tax savings if you have the information you need.
How do your field employees report important repair and maintenance information quickly and deploy it to everyone. Maintaining an up to date and compliant array of repair and maintenance history can be very difficult. Oftentimes, the equipment must be serviced and will require a certificate of service completion. On top of that, the equipment can be located in many areas and in some cases constantly moving. Company personnel must know where their equipment is, what condition it is in, who has it and that it is safe to use. We are all constantly trying to do more with less budget but safety must never be compromised. Making the transition to a Cloud based and Mobile App system from Asset Panda saves time and money. Our system can be up and running quickly allowing you to get back to your job. Join people all over the world who trust Asset Panda to track their assets including repair and maintenance history.
A Better Way of Working…Repair and Maintenance Regs for Fixed Assets
- FREE Mobile Apps and Powerful (Cloud) Platform
- Use the devices your employees already have
- No more expensive scanners, software or spreadsheets
- Track and Manage your assets at the same time
- Complete history of Repair and Maintenance on all field equipment
- Adapts to the way you work
WHY ASSET PANDA FOR REPAIR AND MAINTENANCE REGS FOR ASSET TRACKING?
Up to date repair and maintenance compliance requires daily tracking of the status of equipment. Staying compliant and informed on the repair and maintenance information on your assets is a constant battle. You need the ability to run a report showing when the last time the equipment was repaired and scheduled maintenance on the equipment along with detailed cost.
Asset Panda is a great fit for tracking and managing equipment along with repair/maintenance history. Most equipment managers have some sort of asset tracking in place for their equipment. Typically the equipment is numbered numerically with stickers on both the equipment station and the equipment itself. A regulatory inspection certificate is required to be signed off and attached after the equipment is serviced. The problem with most systems and asset tracking methods is when equipment is used, moved or taken away for off-site service by contractors, there is no way of knowing when repairs or maintenance was complete and what the cost was across the enterprise.
Asset Panda works as a scheduler as well providing custom alerts and calendar/gantt charts to help schedule the service for future updates when the next service becomes due. In addition, Asset Panda helps you keep track of where each item is/was located, type, size it is and build a service history for each piece of equipment for auditing purposes. You can even create and manage work orders against equipment maintenance in Asset Panda.
Equipment tracking and management features:
- Comprehensive directory of all of your vital equipment
- Look up the complete history of the equipment
- Track assets by vendor
- Look up parent/child relationships among equipment
- Check in/out – you know where your assets are at any time
- Notify technicians of lease expirations
- Schedule routine maintenance
- No additional hardware/software needed – use the mobile devices you already carry
The results of implementing equipment tracking:
- Significant time savings – both for HQ and the field you serve
- No more lost items – look up these components and find their locations immediately
- Eliminate guesswork from repair and replacement decision-making
- Reduced taxes
- Savings on property insurance
- Reduced asset losses
- Fast audits
- More accurate reporting
- Know what you own
- Know where your assets are
- Know who has them
- Know what condition they are in
- Store all information related to an Asset in one location
- Save Time and Money!!!