Not at all. Everything goes into one equipment maintenance expense account, but each expense is also tagged with the asset number of the asset. In the ledger report you can filter by the asset number. That makes it much easier to track expense per machine.
Everything is kept in Indirect Expenses under a separate account for all machinery expenses. that account can later be sorted by asset number if I need to know what it is costing me to keep a machine alive.
I can allocate the total of the account to anything I need to at a later time based on how the tax rules change. If you live in a location where it never changes, then you may want to be more specific about how to catagorize an expense as it is incurred, but you tend loose some of the flexibility of finding the expenses related to a single asset later when you do it all in one lump as part of the asset valuation. I just find it harder to break out the information I really need to evaluate against a particular machine by doing it your way.
Sorry if it doesn’t make sense to you. It may be more about differing accounting laws in different locations.