Insight
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Plant Assets

The Plant Assets (PA) module tracks utility plant assets such as poles, wires and meters. Plant Assets is designed to follow the RUS Continuing Property Record (CPR) system. When work orders are closed, Plant Assets records are automatically updated from the Work Order closing process. Entries to increase or decrease plant items can also be made directly in the Plant Assets module. Note: The Fixed Assets module handles non-utility plant assets, such as office furniture, trucks, buildings, etc.

 

Key Features & Benefits of the Insight Plant Assets Module

Seamless Integration:

As part of the closing of work orders, plant records are increased or reduced due to the unitization of work order costs during the work order close. Plant records are automatically updated during this process.

PCS UtilitePCS Utilite

Item Inquiry

Asset Defaults:

Each Plant Asset record is assigned a Class ID, which acts like a template automatically populating the fund, sector, GL asset account, depreciation accounts, depreciation method, life, rate and unit of measure. This allows for fast and accurate input of a plant asset record.

Calculation of Standard Cost:

Standard costs are an important aspect on how costs are distributed to plant assets during the work order close process.

For each plant asset, the system can calculate the standard cost of installing (construction) or retiring the plant asset. These costs can be based on labor, materials, equipment, direct charges, and overheads. These standard costs of the plant asset record are the basis for how costs are added to plant assets during the work order close process. This process saves the utility time by providing an easy method to recalculate a standard cost of one plant asset or all records in the file.

Reports:

A variety of reports are available to assist in managing the control of plant records. Plant Assets reports allow the utility to have instant access to the following reports, including plant assets balances, batch detail and summary, account distribution, activity detail, and standard cost.

Plant Assets also Delivers:

  • Quick print option during entry of a plant record, inquiry and detail posting.
  • Automatic updating of plant balances with information from Work Orders.
  • Inquiry screen to view unlimited number of months of history stored in the module.
  • Integration of inventory items to both the install and retirement standard cost to allow quick updating as material price changes.
  • Provides the ability to copy the components for the standard cost of an install of a plant record to the components of the retirement of the same plant record.
  • Ability to update special equipment purchases directly from Accounts Payable.
  • Ability to depreciate plant assets on a group basis from the Fixed Assets module.
  • Ability to track plant in multiple states.