Hanoi Truck Maintenance Cost Accounting: A Guide for Efficient Operations

Anh Nguyen Van Tuan, owner of a 5-ton Dongfeng truck, frequently travels the Hanoi – Hai Phong route. Each time he returns via the Chuong Duong Bridge, he stops by Ms. Lan’s roadside stall. Their conversations often revolve around vehicles, prices, and fuel costs.

One day, Mr. Tuan lamented, “My truck has been experiencing frequent minor breakdowns lately, and the repairs are quite costly. Not to mention the regular oil changes; calculating expenses is a headache.” Ms. Lan smiled gently and replied, “Everyone in this profession goes through that. The important thing is to know how to properly account for truck maintenance costs to plan for the long run.”

Ms. Lan’s words made Mr. Tuan contemplate. It turned out that managing truck maintenance expenses wasn’t just about simple record-keeping but a problem that needed a systematic solution.

What is Truck Maintenance Cost Accounting and Why is it Important?

Simply put, truck maintenance cost accounting is the systematic recording, classifying, and calculating of all expenses incurred during the repair and maintenance of a vehicle. This seemingly small task plays a crucial role for any vehicle owner, especially truck drivers like Mr. Tuan.

Benefits of Truck Maintenance Cost Accounting:

• Clear Financial Health: Track the inflow and outflow of money related to vehicle repairs, enabling better expense control.
• Predict and Prevent Risks: Based on repair history, predict potential breakdowns, plan for regular maintenance, and avoid sudden vehicle issues that disrupt work.
• Informed Business Decisions: For transportation businesses, accurate cost accounting helps calculate reasonable freight rates and increase profitability.
• Legal Compliance: Comprehensive cost accounting provides a basis for accurate tax filing and fixed asset depreciation.

5-ton Dongfeng truck

Truck Maintenance Expenses to Account For

For accurate cost accounting, categorize expenses clearly. Here are some common expenses:

1. Unexpected Repair Costs

• Engine Repair: Replacing engine parts like pistons, cylinders, valves due to unexpected failures.
• Brake System Repair: Replacing brake pads, rotors, brake fluid, etc.
• Steering System Repair: Fixing steering wheel, gearbox, steering linkage issues.
• Electrical System Repair: Repairing or replacing batteries, wiring, lights, horns.
• Body Repair: Painting, denting, welding, replacing body parts due to collisions or accidents.

2. Scheduled Maintenance Costs

• Oil Change: Performed according to the manufacturer’s recommended intervals.
• Replacing Oil, Air, and Fuel Filters: Ensuring optimal engine performance.
• Brake and Steering System Inspection and Maintenance: Guaranteeing safe operation.
• Battery Maintenance: Extending battery lifespan.

How to Account for Truck Maintenance Costs

1. Thorough Record Keeping

Keep all invoices and receipts related to vehicle repair and maintenance. Add notes to each invoice with vehicle information (license plate, mileage) and the reason for repair.