Asset Management

This guide covers creating, editing, and managing individual asset records in Asset Pro.

Prerequisites

Before creating your first asset, ensure you have:

• ✅ Configured at least one Industry

• ✅ Created at least one Classification Level

• ✅ Created at least one Classification Value at Level 1

• ✅ Configured Asset number series in Asset Setup

See Setup if you haven't completed these steps.

Creating a New Asset

Accessing the Asset List

1. Choose the 🔎 icon, enter Assets, and choose the related link

2. Click New to create a new asset

3. The Asset Card opens with a blank record

Quick Start: Minimal Asset Creation

At minimum, you need to provide:

Required Fields:

• No. - Auto-assigned from number series (or enter manually if allowed)

• Description - What is this asset?

• Industry Code - Which industry does it belong to?

• Classification Code - How is it classified?

Example: Creating a Simple Asset

No.: ASSET-0001 (auto-assigned) Description: Main Cargo Vessel Industry Code: FLEET Classification Code: PANAMAX (Level 3: Panamax Bulk Carrier)

That's it! Click away from the card to save.

Asset Card Overview

The Asset Card is organized into logical groups for different types of information.

Group 1: General

Basic identification and status information.

No. (required)

• Asset identifier assigned from number series

• Auto-generated when you create new asset

• Can be manually entered if number series allows

• Cannot be changed after related records exist

Description (required)

• Primary name/description of the asset

• Max 100 characters

• Examples: "Main Cargo Vessel", "MRI Machine - East Wing", "Excavator #3"

• Displayed in asset lists and searches

Description 2 (optional)

• Additional descriptive text

• Max 50 characters

• Use for secondary details: "Model XJ-2000", "Leased from ACME", "North Facility"

Search Description (optional)

• Search-friendly identifier

• Max 100 characters

• Automatically populated if left blank

• Used for quick searches in lookup pages

Status

• Current lifecycle status of the asset

• Values:

  • Active - In normal use (default)

  • Under Maintenance - Temporarily unavailable

  • Disposed - No longer in service

  • Pending - Awaiting activation

• Informational only - no built-in restrictions

Blocked

• ☑️ Checked: Asset cannot be used in transactions

• ☐ Unchecked: Asset available for normal use

• Use when phasing out or restricting an asset

Group 2: Classification

How this asset is categorized in your organizational taxonomy.

Industry Code (required)

• Which industry this asset belongs to

• Must be defined in Asset Industries

• Examples: FLEET, MEDICAL, IT, RENTAL

• Changing industry clears classification

Classification Code (required)

• The specific classification value (leaf node)

• Lookup filtered by Industry Code

• Must be a valid classification value

• Examples: PANAMAX, CARGO, COMMERCIAL

How Classification Works
Asset stores the leaf classification (most specific level). Parent levels are automatically determined by walking up the classification tree.

Example:

• You assign: PANAMAX (Level 3)

• System knows: PANAMAX → parent: CARGO → parent: COMMERCIAL

This means the asset is classified as:

• Level 1: Commercial

• Level 2: Cargo Ship

• Level 3: Panamax Bulk Carrier

Classification Level No. (read-only)

• Displays which level the classification is at

• Calculated automatically

• Example: 3 (if classified at Level 3)

Classification Description (read-only)

• Full description of the classification value

• Example: "Panamax Bulk Carrier"

Group 3: Physical Hierarchy

Tracks the physical parent-child assembly structure.

Classification vs Physical Hierarchy
These are separate concepts:

• Classification = "What TYPE of asset is this?" (organizational taxonomy)

• Physical Hierarchy = "What's INSIDE this asset?" (actual components)

Example:

• Classification: PANAMAX (type of vessel)

• Physical Hierarchy: Vessel → Engine → Turbocharger (what's physically inside)

Parent Asset No.

• The asset this asset is physically part of

• Leave blank for standalone assets

• Lookup shows all assets

• Validates against circular references

• Changing parent recalculates hierarchy

Hierarchy Level (read-only)

• Depth in physical assembly tree

• 1 = Root asset (no parent)

• 2 = Direct child

• 3 = Grandchild, etc.

• Automatically calculated

Root Asset No. (read-only)

• The topmost parent in the assembly tree

• Automatically calculated by walking up parent chain

• Empty for standalone assets (no parent)

• Useful for grouping all components of a major asset

Example: Physical Hierarchy

Vessel MV-001 (Root, Hierarchy Level 1) ├─ Engine ENG-001 (Hierarchy Level 2, Root: MV-001) │ ├─ Turbocharger TC-001 (Hierarchy Level 3, Root: MV-001) │ └─ Fuel Pump FP-001 (Hierarchy Level 3, Root: MV-001) └─ Propeller PROP-001 (Hierarchy Level 2, Root: MV-001)

Group 4: Current Holder

Tracks who currently has the asset and when they received it.

Current Holder Type

• Type of entity holding the asset

• Options:

  • Customer - External customer

  • Vendor - Supplier or service provider

  • Location - Physical location/warehouse

  • (Blank) - Not assigned to a holder

Current Holder Code

• Identifier of the specific holder

• Lookup filtered by Holder Type:

  • Customer → Customer list

  • Vendor → Vendor list

  • Location → Location list

Current Holder Name (read-only)

• Name of the holder

• Automatically populated from master data

Current Holder Since

• Date when current holder received the asset

• Used for custody tracking

• Optional field

Holder History
If Enable Holder History is turned on in Asset Setup, all holder changes are automatically tracked in the Holder History ledger.

View history by clicking Holder History action on the Asset Card.

See Holder Management for details.

Group 5: Ownership

Tracks legal ownership, operational responsibility, and lease information.

Why Three Ownership Roles?

Assets can have complex ownership structures:

• Owner - Who legally owns it?

• Operator - Who operates it day-to-day?

• Lessee - Who is leasing/renting it?

Example: Leased Equipment

Asset: Excavator EX-500 Owner Type: Vendor | Owner Code: ACME-LEASE | Owner Name: ACME Leasing Inc. Operator Type: Employee | Operator Code: EMP-042 | Operator Name: John Smith Lessee Type: Our Company | Lessee Code: (blank) | Lessee Name: Our Company

Owner Type / Owner Code / Owner Name

• Legal ownership of the asset

• Owner Type options:

  • Our Company - We own it

  • Customer - Customer owns it (we service/manage)

  • Vendor - Vendor owns it (we lease/borrow)

  • Employee - Personal equipment used for work

  • Responsibility Center - Owned by a department/division

• Owner Name auto-populated from master data

Operator Type / Operator Code / Operator Name

• Who operates the asset day-to-day

• Same type options as Owner

• Typically Employee or Responsibility Center

• Can differ from owner (leased equipment scenario)

Lessee Type / Lessee Code / Lessee Name

• Who is leasing the asset (if applicable)

• Same type options as Owner

• Used when asset is rented/leased

• Leave blank if not leased

When to Use Each Role

• Owner alone: Simple owned assets

• Owner + Operator: Owned asset assigned to employee/department

• Owner + Lessee: When you own and lease out to customer

• All three: Complex scenarios (vendor owns → we lease → employee operates)

Group 6: Dates

Important dates in the asset lifecycle.

Acquisition Date

• When asset was acquired/purchased

• Informational field

• Use for age calculations and reporting

In-Service Date

• When asset was first put into operational use

• May differ from acquisition date (setup/commissioning time)

• Useful for warranty and maintenance schedules

Last Service Date

• Date of most recent maintenance/service

• Update manually after service

• Helps track service frequency

Next Service Date

• Scheduled date for next maintenance

• Useful for preventive maintenance planning

• Can drive alerts/reports (future enhancement)

Decommission Date

• When asset was retired from service

• Set when Status = Disposed

• Useful for historical tracking

Group 7: Financial

Cost and value information.

Acquisition Cost

• Original purchase price or acquisition cost

• Currency amount

• Informational field (Asset Pro doesn't handle depreciation)

Current Book Value

• Current accounting value

• Update manually or integrate with Fixed Assets

• Informational field

Residual Value

• Expected value at end of useful life

• Used for depreciation planning

• Informational field

Integration with Fixed Assets
Asset Pro focuses on physical asset tracking. For financial depreciation and accounting:

• Use standard Business Central Fixed Assets module for accounting

• Use Asset Pro for operational tracking (location, maintenance, components)

• Link the two via custom integration if needed

Group 8: Additional Information

Technical details and identifiers.

Serial No.

• Manufacturer's serial number

• Max 50 characters

• Used for warranty claims and identification

• Example: "SN-X8492-2023"

Manufacturer Code

• Lookup to Business Central Manufacturer table

• Standard BC field

• Useful for filtering and reporting by manufacturer

Model No.

• Manufacturer's model identifier

• Max 50 characters

• Example: "CAT-320D", "GE-MRI-750W"

Year of Manufacture

• Four-digit year

• Range: 1900-2100

• Useful for age-based filtering and compliance

Warranty Expires

• Date when manufacturer warranty ends

• Useful for service planning

• Can drive warranty claims workflow

Editing Assets

Modifying Asset Data

1. Open the Assets list

2. Find the asset you want to edit

3. Click to open the Asset Card

4. Make your changes

5. Click away from the card to save automatically

Fields That Cannot Be Changed
Some fields cannot be changed after creation:

• No. - Asset identifier (only if related records exist)

Some fields are read-only (calculated automatically):

• Classification Level No.

• Classification Description

• Current Holder Name, Owner Name, Operator Name, Lessee Name

• Hierarchy Level

• Root Asset No.

• Last Date Modified

• Last Modified By

System Audit Fields

Asset Pro automatically tracks changes:

Last Date Modified (read-only)

• Date of last change to any field

• Updated automatically on save

Last Modified By (read-only)

• User ID of person who made last change

• Tracked automatically

Deleting Assets

Assets can only be deleted if:

• ❌ No child assets exist (must delete children first)

• ❌ No holder history entries exist

How to Delete an Asset

1. Open the Asset Card

2. Click Delete (or press Ctrl+Delete in list)

3. Confirm deletion

If deletion is blocked:

Error: "Cannot delete asset ASSET-0001 because it has child assets."

• Solution: First delete or reassign all child assets

Error: "Cannot delete asset ASSET-0001 because it has holder history entries."

• Cause: Asset has holder movement history

• Solution: Holder history is permanent ledger data and cannot be deleted

• Alternative: Set Status to "Disposed" and Blocked = true instead of deleting

Best Practice: Don't Delete Assets with History
Instead of deleting assets that have operational history:

1. Set Status to "Disposed"

2. Set Decommission Date to today

3. Check Blocked to prevent further use

4. Keep the record for historical reporting

Only delete assets created by mistake with no history.

Asset List Page

The Asset List is the main navigation point for assets.

Accessing the Asset List

• Choose the 🔎 icon, enter Assets, and choose the related link

List Columns

Column	Description
No.	Asset identifier
Description	Asset name
Industry Code	Industry classification
Classification Code	Classification value
Status	Asset status
Current Holder Type	Type of current holder
Current Holder Code	Holder identifier
Current Holder Name	Holder name
Serial No.	Manufacturer serial number

Filtering Assets

Business Central provides powerful filtering:

Filter Pane (Left Side)

• Click Filter icon to show filter pane

• Add filters by field name

• Multiple filters combine with AND logic

Quick Filters

• Click column header filter icon (funnel)

• Select specific values

• Type to search values

Search Box

• Type in search box at top right

• Searches across multiple fields (No., Description, Search Description)

Example Filters:

Show all assets:

• Industry Code = FLEET
• Status = Active
• Current Holder Type = Customer

Show assets needing service:

• Next Service Date = ..2024-12-31 (filter for dates up to end of year)
• Status = Active

Sorting Assets

• Click any column header to sort by that field

• Click again to reverse sort order

• Hold Shift and click multiple columns for multi-level sorting

Actions from Asset List

Navigation Actions:

• Holder History - View holder movement history for selected asset

Processing Actions:

• Transfer Asset - Transfer asset to new holder (future implementation)

Opening Asset Card

• Click any asset row to open its Asset Card

• Or select row and press Enter

• Or right-click and choose Edit

Best Practices

Data Entry Best Practices

Use Consistent Naming

• Establish naming conventions for Description field

• Examples: "(Type) - (Location) - (Number)" → "Vessel - North Port - 001"

• Document your conventions in internal procedures

Fill in Key Dates

• Always enter Acquisition Date and In-Service Date

• Keep Last Service Date updated after maintenance

• Set Next Service Date for planning

Track Ownership from Day 1

• Set Owner Type/Code when asset is created

• Update Operator when asset is assigned

• Record Current Holder when asset is deployed

Use Serial Numbers

• Always record manufacturer Serial No. if available

• Critical for warranty claims and recalls

• Helps identify specific units

Organizational Best Practices

Classification Discipline

• Classify every asset (required field, but enforce completeness)

• Use most specific classification level available

• Don't over-classify initially - broad categories are fine

Parent-Child Usage

• Use for physical components only

• Don't confuse with classification hierarchy

• Example: Vessel → Engine is parent-child, but Vessel classification is separate

Status Maintenance

• Update Status as asset moves through lifecycle

• "Under Maintenance" during service

• "Disposed" when retired

• Blocked = true for assets that should not be used

Regular Reviews

• Quarterly review of asset locations (Current Holder)

• Annual review of financial values

• Regular maintenance date updates

Reporting and Analysis

Use Classification for Grouping

• Reports by Industry Code

• Drill-down by classification levels

• Compare asset counts across categories

Use Holder for Location Reports

• Assets by customer

• Assets by location

• Custody accountability reports

Use Dates for Lifecycle Analysis

• Asset age (based on Acquisition Date)

• Service frequency (Last Service Date)

• Upcoming maintenance (Next Service Date)

Performance Tips

For Large Asset Lists (1000+ assets):

• Always use filters to narrow results

• Avoid opening full unfiltered list

• Use Search box for specific asset lookup

• Create filtered views for common queries

Troubleshooting

Cannot Create Asset

Error: "Asset Nos. must have a value in Asset Setup"

• Cause: Number series not configured in Asset Setup

• Solution: Go to Asset Setup and select a number series in Asset Nos. field

Cannot Change Industry Code

Error: "Classification Code must be blank before changing industry"

• Cause: Cannot change industry when asset has classification from different industry

• Solution: Clear Classification Code first, then change Industry Code, then set new Classification Code

Classification Lookup is Empty

Problem: No classifications appear in Classification Code lookup

• Cause: No classification values defined for selected industry

• Solution: Go to Classification Values and create values for the industry

Cannot Assign Parent Asset

Error: "Asset ASSET-0001 cannot be its own parent"

• Cause: Trying to assign asset as its own parent

• Solution: Select a different asset as parent

Error: "Circular reference detected: Asset ASSET-0001 appears in its own parent chain"

• Cause: Trying to create a circular reference (A→B→C→A)

• Solution: Select a different parent that doesn't create a loop

Cannot Delete Asset

Error: "Cannot delete asset because it has child assets"

• Solution: Delete child assets first, or remove parent assignment from children

Error: "Cannot delete asset because it has holder history entries"

• Solution: Don't delete - set Status to Disposed and Blocked = true instead