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Asset Financial Tab

The financial tab holds multiple panels all designed to hold pertinent information pertaining to asset financials. This article will cover all the panels and fields found in the financial tab.

You can visit Asset File Table of Contents to access the full list of articles related to Displayed Vehicle Data in RTA Software.

 

🔓 Denotes fields that are editable within Fleet360 by clicking in the field, entering the data, and clicking the check mark

Financial Information Panel

The financial information panel is segmented into 4 categories: Purchase Information, Licensing, Insurance, and options. See below for descriptions of each field in this panel.

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Purchase Information

  • 🔓 Purchase Price: Asset's purchase price

  • 🔓 Purchase Date: Date of asset purchase

Licensing

  • 🔓 Licensing Per Year: Cost of asset licensing/registration on a yearly basis

  • Licensing Per Period: Auto-calculates the cost per month based on the annual cost entered

  • Licensing Life: Auto-calculates the total cost of licensing for the life of the asset

Insurance

  • 🔓 Insurance Per Year: Cost of asset insurance on a yearly basis

  • Insurance Per Period: Auto-calculates the cost per month based on the annual cost entered

  • Insurance Life: Auto-calculates the cost per month based on the annual cost entered

Options

  • 🔓 Leased: Select if the asset is leased

  • You will get a panel to input the lease information rather than asset depreciation. Lease cost will count toward asset fixed cost.

  • image-20240325-142334.png Add the Lease/ Loan Start Date

  • image-20240325-142338.png Add the Lease/ Loan Expiration Date

  • Lease/ Loan Term will Auto-Calculate

  • image-20240325-142343.png Add the Lease/ Loan Cost per Month

  • image-20240325-142346.png Add the Lease Residual Value

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  • 🔓 Owned: Select if the asset is owned and input the depreciation information

Depreciation Panel

You can add multiple depreciation lines as well as add Capitalized Work Orders to depreciation. Any depreciation added will count toward asset fixed costs.

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See below for descriptions of each field in this panel.

  • image-20240325-145051.png Work Order: Work order number you want to Capitalize and Depreciate

  • 🔓 Purchase Price: Asset’s purchase price plus any upfit cost

  • 🔓 Residual Value: Estimated trade-in value

  • Current Value: Auto-calculates based on depreciation data entered

  • Depreciation Per Month: Auto-calculates based on depreciation data entered

  • 🔓 Depreciation Months: Total number of depreciation periods for the asset

  • 🔓 Months Remaining: Total number of depreciation periods remaining for the asset

When entering depreciation for partially depreciated assets, the amount already depreciated does not post to the asset's life costs—in other words, the cost is not retroactive.

Sold, totaled, or auction assets

Moving an asset to another facility - including an auction or holding facility - does not stop depreciation or recalculate Current Value. Depreciation is driven by the lines on this panel, not by which facility the asset sits in.

  • Each End of Month run posts one period of depreciation for every depreciation line that still has Months Remaining, at whatever facility the asset is in.

  • To stop depreciation for a totaled, sold, or auction asset while keeping its history, set Months Remaining to 0 on the applicable line(s). If Current Value should land on a salvage amount, adjust Residual Value first.

  • If Current Value has not changed after a move, check that the End of Month process has run for the asset’s facility since the move, and that the line still has Months Remaining.

Depreciation posts through the End of Month process - see Period Cost Settings for how it is scheduled.

Appreciation Panel - Coming Soon

Replacement Info Panel

Replacement Info.png

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This panel is driven by data submitted in the asset class code replacement tab. See Class Code Replacement Tab here. There are many ways or methods to calculate when it is time for assets or equipment to be replaced. Including this type of information in the asset file will assist with projections and budgeting and assist with reporting on reliability of the asset.

Field Definitions in Fleet360

  • Purchase Price – Base purchase price for the asset

  • Total Acquisition Cost – Base purchase price plus upfitting's for the asset

  • Estimated Resale Value – Estimated resale or trade-in value of the asset

  • Estimated Inflation % – Estimated yearly cost of living increase in percent

  • Estimated Year – The year the asset will need to be replaced

  • Estimated Primary Meter – The number of units (miles/kilometers/hours) when the asset will need to be replaced

  • Actual Sale Date – Date the asset is sold

  • Actual Sale Value – Actual resale or trade-in value of the asset

  • Additional Options

    • Override Class Schedule – This selection de-couples the individual vehicle against the asset class

    • Add New Upfit – This adds additional upfitting cost to the asset for Spec items or added mounted equipment (i.e. Two Way Radios, Lift Gate, Light Bars)

Recurring Charges Panel

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Adding Recurring Charges one at a time

  1. Click on the “plus” button in the top right of the Recurring Charges panel.

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Fee Types are not editable at this time, you must select from the list

  1. Fill out the form with a Description, Cost, and select a Fee Type from the drop down menu

  2. The calculator in the top right is a payment calculator to assits in determining the appropriate repayment schedule for an asset

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  1. Once the form is complete, click “Save”

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Adding Recurring Charges in Bulk

  1. Adding Recurring Charges in bulk across the entire asset list or multiple assets at one time is done in the asset settings

  2. Click here: to see how to add Recurring Charges in Bulk

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