It is important to track warranties on equipment since it can save you a lot of money in the long run. Especially this becomes critical when your company grows and you have more and more equipment to keep track of, as well as when you grow you have someone else in charge of the equipment this becomes more important to record in a central location.
Some examples of warranties that saved us money:
Autozone- They usually offer 3 year warranties on car batteries. Since our trucks are not run in the winter, most of the time in the spring we need to replace several batteries. This spring we had about half of our batteries replaced for free or discounted.
Mowers- Our mowers are under warranty since we bought them new, so we always check first to make sure the repair is under warranty before we waste the time trying to fix it on our own. Our sit down ferris, we replaced an ignition switch under warranty. We have also had a new exhaust put on under warranty. As long as you have a good relationship with your dealer, they will usually hook you up and even sometimes replace things that are not under warranty.
In our software, we make sure to notate on the account of each piece of equipment that that piece of equipment is under warranty so to always look into this.