Asset Ledger terminology

Asset Register vs Asset Ledger

Typical registration of assets in AMT is performed with the Asset Register. Recording of the capital cost and depreciation is performed with the Asset Ledger.

Parent Assets

The main capital asset, such as a truck.

Child Assets

Specific components on a parent asset that have been capitalised, for example engine.

Component Based Depreciation (CBD)

Component Based Depreciation Strategy Tasks that relate to child assets (components that have been capitalised in the asset ledger). Depreciation at a component level, rather that a parent asset level.

Entry Distribution Code (EDC)

A transaction type for journals.

Journals

Journals are the transactions that record the entries in the Asset Ledge. Work orders generally record maintenance costs, journals record financial transactions against the Asset Ledger. In other modules of AMT, Journals can also be used for other financial transactions.

Plant Rates

How an asset's hire rate is broken down.

Plant Invoices

The monthly invoices for the hire of the asset. The invoices are often based on the utilisation of the asset in that month.

Project

Specific hire projects or contracts for an asset. An asset can have many hire projects in its life, but can only ever belong to one project at a time.