RTA Web - Asset Financial Tab

Owned by Kim Dyer
Last updated: Mar 25, 2024 by Nathan Schafer
3 min read

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 Web here.

 

Denotes fields that are editable within RTA Web 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.

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

image-20240325-135548.png

 

  • 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.

 

 

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.

Replacement Info Panel

 

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 RTA Web

  • 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)