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Equipment object cost/revenue analysis

  • 9 November 2022
  • 4 replies
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  • Wout
  • Sidekick (Customer)
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Hello,

I was wondering how the values in the Equipment Object Cost/Revenue Analysis are generated?

To get an insight in the operational cost I am looking for a method to connect part cost (i.r.w. maintenance activities) to functional objects.

My current guess is that the Purchase Requisitions generated by Work Orders are linked to Functional Objects. Additionally, if we were to add labor cost to personnel we would also start generating labour cost via Clockings of Work Orders.

 

Could anyone help me with these questions?

Kind regards,

Wout

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Best answer by Nethmini Kosvinna 9 November 2022, 11:58

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Nethmini Kosvinna
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Hi @Wout ,

Simply, values in the Equipment Object Cost/Revenue Analysis are generated when you report costs in work tasks connected to that particular object (cost type may be material, personnel, expenses etc.). If you have sales lines generated under work task, they will represent the values under revenue column.

Please let us know if you wish to have more details.


Thanks & Best Regards,

Nethmini

https://www.linkedin.com/in/nethmini-rathsala-kosvinna-8371b6127/
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@Nethmini Kosvinna,

Thanks for your reply.

Could you explain to me how labels such as; material, personnel, expenses, etc. would be generated? Is this done via Requisition Lines? Pre-posting? Or in another manner?

 

Additionally, could you explain to me where equipment purchase cost (Acquisition Cost) is used? As I cannot find it in the Equipment object cost/revenue analysis.

Kind regards,

Wout

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Hi @Wout,

The costs and revenues for the specific piece of equipment are documented whenever a work order has been successfully executed for a specified object or objects.

 

Throughout an object's lifetime, costs mount up and profits are produced. If an object is serial, it may reside under numerous parent objects during its lifetime. Each placement has different expenses and income. Additionally, project-related charges may be included in the total costs expended for an object. As a result, it's critical to have a method for viewing and analysing expenses and revenues for a specific object based on where it is in a structure.

 

You could analyse these costs and revenues based on a predetermined search criteria as well as the placement of the object with the help of IFS/Service Management and IFS/Enterprise Asset Management. The following cost types of costs and revenues are shown:

 

Personnel, Material, Tool/Equipment,  External, Expenses, Fixed Price, Direct Sales and Contract Invoicing

 

Revenues are recorded when postings are transferred to IFS/Customer Order, whereas costs are recorded when postings are permitted. The revenues created by objects are often documented, but manually inserted expenditures (external, expenses, fixed pricing) are not. The costs are recorded for the object in the event of transferred expenses from IFS/Human Resources.

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@KrishanthaRutterKey 

I just found out that under Work Task Transactions the labels used in Equipment Object Cost/Revenue Analysis are free for selection as a Transaction Type. (see below)

 

Now I can see the Transaction Type directly correlates to the time spent on a Work Order. And the standard Transaction Type being Personnel. I have 2 questions on this;

  1. Is it possible to automate certain Transaction Types? (I have also found you can pre-select certain types in the Work Task Template, below Planning)

Unfortunately, I have not found out a way to save this to a Work Task Template.

Under Valid For Sites/Planning I am unable to select anything from a dropdown.

  1. When I enter a Maintenance Purchase Requisition, I do not see how it would be categorized as I have found at the Work Task Transactions. Would these requisitions/ Purchase Orders also be visible under Work Task Transactions/Equipment Object Cost/Revenue Analysis when fully executed (ordered etc.)?  

Thanks in advance!

 

 

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