I'm interested in understanding how different companies organize their GL codes, particularly when it comes to categorizing equipment costs-such as repairs, maintenance, fuel, licensing. Additionally, I'd like to know how they track direct equipment rentals. Currently, all of our equipment rental expenses are consolidated into one GL account, which makes it difficult to identify which types of equipment we're spending the most on renting. My goal is to conduct a continuous cost analysis to determine which equipment would be more cost-effective to purchase rather than rent. I would also be interested in how safety & training costs are categorized.
------------------------------
Janna Curtis
Controller
Tempest Enterprises
Murray UT
(385) 414-1120
------------------------------
Original Message:
Sent: 11-20-2024 06:39
From: Warren Bryson
Subject: Restructuring chart of accounts
Hi Janna,
Are you looking for a resource on which G/L accounts to include or for a software to build out the new account structure?
If looking for which to include I would use an AI interface like ChatGPT or Copilot to both research and also assist in creating the new account structure.
If it is a software, then use excel. Most accounting systems will allow an import from excel or csv files and you can do the build out without affecting your current structure.
Hope this helps!
------------------------------
Warren Bryson
Director of Finance
Kings Electric Services
Lebanon OH
(310) 248-0086
Original Message:
Sent: 11-19-2024 16:54
From: Janna Curtis
Subject: Restructuring chart of accounts
We are working on restructuring our GL codes, making them a little bit more specific to help track equipment costs and job costs. What's a good resource for this?
------------------------------
Janna Curtis
Controller
Tempest Enterprises
Murray UT
(385) 414-1120
------------------------------