How to Track Asset Expenses

Overview

Expense tracking allows you to record specific financial costs incurred by an asset, such as software licenses, hardware upgrades (e.g., adding RAM), or out-of-warranty repairs. Unlike the "Service Log" (which tracks the activity), the Expense module focuses on the cost, allowing for accurate Total Cost of Ownership (TCO) reporting.

Step-by-Step Guide

1. Navigate to the Asset Expenses Tab

Access the financial records for a specific item.

• From the Inventory > Assets list, click on the name of the asset (e.g., BOOLLAP1).

• On the asset details page, click on the Expenses tab (1) in the top navigation bar.

• Click the Create Expense button (2) on the right side.

2. Record the Expense Details

In the "Asset Expense" window, log the cost information.

• Expense Type: Select the category (e.g., Repair, Upgrade, License).

• Description: Enter a specific reason for the cost (e.g., "Repair the hard drive").

• Cost ($): Enter the exact amount (e.g., 100).

• Service Provider: Select the vendor responsible (e.g., Lenovo).

• Date: Select the Expense Date to ensure it falls into the correct budget period.

• Click Save to add this to the asset's financial histo