Cost Management

Manage your costs and measure profitability

Whether you need to keep a cost analysis against every job or contract, or you need to keep careful track of your equipment maintenance costs the rentalresult application can assist you. As well as our system-wide job costing options which allow you to track cost and revenue on a job by job basis through to the GL, we also have multiple features to assist you in tracking maintenance, sub-rental, operator and asset costs across the system. The features below are some of the highlights.

rentalresult offers a number of key features to help you manage costs across the business

job or project costing

If you work on large projects or your customers work on large projects then the project or job costing functions of the rentalresult application may be what you are looking for. Designed to assist construction companies, crane companies and other business who work on long term job sites and may need to record project and task or WBS codes down to the lines of their rental contracts, purchase orders, sales, work orders, equipment transfers, even GL journals etc the project costing functions track revenue and cost into every GL transaction. Fundamentally this means you have not just a standard GL, but also a GL that you can slice and dice by Project. This means you can create true profitability by job or project reports for everything that you do.

equipment maintenance costs

For every rental busines, the cost of maintaining equipment is a potentially huge drain on the books. With the rentalresult application you can track every cost down to the individual machine and identify the nature of the cost based on warranty, general maintenance, damage etc right down to the individual part and hours of labor if necessary. You can view costs on a month on month basis and from a reporting perspective you can collate those costs to identify assets where the cost of ownership is unusually high, or manufacturers where the cost of ownership is out of step with other vendors. Within the financials every cost, even if it is generated by a manual purchase invoice or a GL journal can be tracked down to an asset if necessary to ensure that asset costs reflect the whole asset life within your business.

sub-rental cost management

Sub-rentals are a very easy way to lose money, so within the rentalresult applications we use a concept of back-to-back ordering to tie rental contracts and sub-rental purchase orders together. This ensures that at any moment in time you can track not only the amount of revenue that you are expecting or have already billed, but also the cost that you have been charged by your sub-rental vendor. Exception reports indicate sub-rentals which are losing money and help you to get control of your sub-rental budget and ensure sub-rental profitability.

asset register and inventory control

the rentalresult application has been designed to provide a full asset register including the ability to manage depreciation, revaluation, componentization and disposal and acquisition of equipment. To allow for businesses trading across multiple tax authorities or governments the system also allows you to run multiple parallel asset registers to ensure that you can report appropriately to local government bodies whilst still maintaining your corporate depreciation policies for corporate reporting. In addition the system has a full inventory control application to manage everything from fixed assets to parts and sales items ensuring that you have a complete picture of the costs tied up in your inventory and asset register at all times.