Who Doesn't Love New Equipment?

Everyone loves new gear. Why wouldn't you want to have new equipment working in your operations? As an accountant I sometimes have to play the role of the wet blanket and ask the question: "Is it the right thing to do?" Sometimes it will be the right decision, sometimes it may not. We all know that over time, your gear will eventually need to be replaced, or a situation will arise where you don't have the right tools for the job. Undoubtedly, the equipment will begin to fail and productivity and cost-effectiveness of using a previously reliable machine will drop, or simply a new situation will pop up and you don't have the needed equipment configuration. Determining when the time is right to replace the aging equipment or to keep repairing it is not so easy to assess. The answer comes down to knowing your costs, and knowing that you will be able to recover your costs with a suitable amount of work at a good rate for the services you are providing.