Construction
Plant Hire / Equipment Rental
Recording the weekly rental of an excavator or tower crane from a plant hire company.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Work-in-Progress (WIP — Plant Hire) | Asset (+) | 18,000.00 | - |
| Accounts Payable (Plant Company) | Liability (+) | - | 18,000.00 |
💡 Accountant's Note
Hired plant costs are a direct project cost allocated to WIP. Renting is preferred when equipment is needed for a short period or when capital is constrained.
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