Equipment Ledger
Learn how equipment-sharing co-ops register shared assets, book them for members, log hours used, and split maintenance costs by usage.
Shared Asset Libraries & Equipment Tracking
Shared ownership includes sharing tools and equipment. The Equipment Share Board (shown for equipment-sharing cooperatives) coordinates bookings of shared machinery, records how many hours each member used, and shares maintenance costs fairly, in the style of farm machinery cooperatives (CUMAs).
1. Asset Registry & Bookings
Register physical assets and schedule their use:
- Asset Registry: Add each asset with a name and a unique SKU or identifier.
- Bookings: Book an asset for a member on a given date. Assets flagged for maintenance can't be booked.
- Completing a Booking: When the equipment comes back, record the hours used. Those hours drive the maintenance cost split.
2. Usage-Based Maintenance Cost Sharing
When an asset needs repairs, an administrator enters the maintenance cost for that asset:
- Proportional Split: The cost is divided across the completed bookings that haven't yet been charged, in proportion to the hours each member used.
- Capital Account Charges: Each member's share is deducted from their capital account (shown in their Member Ledger history), and the ledger records Dr. Member Capital Accounts, Cr. Cash for the repair payment.
3. Scheduling Service & Depreciation
OwnFold does not track service intervals or calculate depreciation automatically. Add recurring service dates to the Compliance Calendar as custom events, and record depreciation with a manual journal entry in the Financial Core.