Construction
Tower Crane Monthly Hire
Recording the monthly hire charge for a tower crane on a multi-storey building project.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Work-in-Progress (WIP — Crane Hire) | Asset (+) | 35,000.00 | - |
| Accounts Payable (Crane Company) | Liability (+) | - | 35,000.00 |
💡 Accountant's Note
Tower cranes are the single largest plant hire cost on many high-rise projects. The monthly charge is a direct project cost regardless of crane utilization during the month.
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