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Asset Pro Basics

Before diving into daily operations, understand these core concepts and terminology. This foundation will help you work effectively with Asset Pro.

Core Concepts​

What is an Asset?​

Asset = A physical item you want to track

An asset in Asset Pro represents any physical object your organization needs to monitor:

  • Equipment: Computers, machinery, vehicles

  • Devices: Medical equipment, IT hardware, tools

  • Vehicles: Ships, trucks, cars, aircraft

  • Machinery: Production equipment, construction equipment

Key Point: Assets are physical items, not financial assets. Asset Pro tracks custody, location, and movement - not financial depreciation.

Each asset has:

  • Unique number (auto-generated)

  • Description and specifications

  • Current holder (who has it now)

  • Industry and classification

  • Complete custody history

  • Optional parent-child relationships

  • Optional custom attributes

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What is a Holder?​

Holder = Who currently has custody of the asset

The "holder" is whoever or wherever currently possesses the asset. Asset Pro supports 4 holder types:

1. Location (Most common)

  • Physical locations within your organization

  • Examples: MAIN, WAREHOUSE, BRANCH-EAST, PORT-MIAMI

  • Standard BC Location table

  • Use for: Assets at company facilities

2. Customer

  • Assets at customer locations

  • Examples: Rented equipment, assets under service, sold assets

  • Standard BC Customer table

  • Use for: Customer-facing assets, rentals, service assets

3. Vendor

  • Assets with vendors

  • Examples: Equipment at repair shop, assets in maintenance

  • Standard BC Vendor table

  • Use for: Repair, maintenance, consignment

4. Employee (Coming in future versions)

  • Assets assigned to employees

  • Examples: Laptops, company vehicles, tools

  • Standard BC Employee table

  • Use for: User-assigned equipment

Current Holder Fields:

  • Current Holder Type: Location, Customer, or Vendor

  • Current Holder Code: Specific location/customer/vendor

  • Both fields together = complete holder information

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What is an Industry?​

Industry = Top-level organizational container

Industries provide the highest level of organization in Asset Pro. Each industry represents a distinct business area with its own:

  • Classification structure (Type → Category → Model)

  • Custom terminology (Vessels, Devices, Equipment)

  • Custom attributes (Cargo Capacity, RAM, Field Strength)

Examples:

  • FLEET (Fleet Management)

  • MEDICAL (Medical Equipment)

  • IT (IT Assets)

  • MANUF (Manufacturing Equipment)

  • CONST (Construction Equipment)

Why Industries?:

  • Separate classification hierarchies for different business areas

  • Industry-specific terminology

  • Industry-specific custom fields

  • Support multiple business units in one system

One Asset → One Industry (assets cannot span industries)

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What is Classification?​

Classification = Hierarchical categorization (What IS the asset?)

Classification provides structured categorization using hierarchical levels:

Classification Structure:

Industry: FLEET ├─ Level 1: Fleet Type │ ├─ COMMERCIAL (Commercial Vessels) │ ├─ FISHING (Fishing Vessels) │ └─ PASSENGER (Passenger Vessels) ├─ Level 2: Vessel Category │ ├─ CARGO (Cargo Ships) → parent: COMMERCIAL │ ├─ TANKER (Tankers) → parent: COMMERCIAL │ └─ FERRY (Ferries) → parent: PASSENGER └─ Level 3: Vessel Model ├─ PANAMAX (Panamax Bulk Carrier) → parent: CARGO └─ VLCC (Very Large Crude Carrier) → parent: TANKER

Key Features:

  • Hierarchical: Parent-child relationships between levels

  • Flexible: 2-50 levels per industry

  • Custom terminology: Name levels to match your business

  • Filterable: Filter assets by any level

Classification vs. Parent-Child:

  • Classification = What IS it (organizational category)

  • Parent-Child = What's INSIDE it (physical composition)

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What are Attributes?​

Attributes = Custom fields specific to industry or classification

Attributes provide industry-specific data fields without code modifications:

Example - Fleet Industry Attributes:

  • Cargo Capacity (Decimal): 50000.00 TEU

  • IMO Number (Text): IMO 1234567

  • Flag Country (Text): Panama

  • Vessel Condition (Option): Excellent, Good, Fair, Poor

  • Last Survey Date (Date): 2024-01-15

  • Crew Size (Integer): 25

Supported Data Types:

  • Text (codes, names, descriptions)

  • Integer (counts, years, whole numbers)

  • Decimal (measurements, capacities)

  • Date (dates, expirations)

  • Boolean (yes/no, enabled/disabled)

  • Option (predefined choices: Excellent, Good, Fair, Poor)

Attribute Levels:

  • Level 0 (Industry): Applies to ALL assets in industry

  • Level 1-N (Classification): Applies only to assets at specific classification level

Enable/Disable: Controlled by "Enable Attributes" toggle in Asset Setup

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Key Workflows​

Creating an Asset​

Basic Workflow:

  1. Navigate to Asset List

  2. Click New

  3. Fill in required fields:

    • Description: Human-readable name

    • Industry Code: Select industry (FLEET, IT, etc.)

    • Classification values: Select Type, Category, Model

    • Current Holder: Select Location/Customer/Vendor

  4. Fill optional fields:

    • Manufacturer, Model, Serial No.

    • Custom attributes (if enabled)

    • Notes, dimensions, specifications

  5. Click OK to save

Result: Asset created with auto-generated number (e.g., ASSET-0001)

Changing Asset Holder​

4 Methods Available:

1. Asset Journal (Batch processing)

  • Move multiple assets at once

  • Quick corrections

  • Posting date validation

  • See: Asset Journal

2. Asset Transfer Orders (Formal workflow)

  • Open → Released → Posted workflow

  • Shipment and receipt steps

  • Permanent archive

  • See: Asset Transfer Orders

3. Document Integration (Automatic)

  • Purchase documents: Vendor → Location

  • Sales documents: Location → Customer

  • Transfer documents: Location → Location

  • See: Document Integration

4. Manual Holder Change (Optional - if not blocked)

  • Direct edit on Asset Card

  • Auto-registered with "MAN-" prefix

  • Requires "Block Manual Holder Change" = unchecked in Setup

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Viewing Holder History​

Every holder change creates Holder Entries:

To View:

  1. Open Asset Card

  2. Navigate → Holder Entries

  3. See complete custody history

Holder Entry Types:

  • Transfer Out: Asset left holder

  • Transfer In: Asset arrived at holder

Always in pairs: Every transfer creates both OUT (from old holder) and IN (to new holder)

Entry Fields:

  • Entry No. (unique identifier)

  • Asset No.

  • Entry Type (Transfer Out / Transfer In)

  • Holder Type & Code

  • Posting Date

  • Document No. (reference to journal/transfer/document)

  • Transaction No. (groups related transfers)

Point-in-Time Queries: "Who had Asset-0001 on 2024-01-15?" → Query holder entries

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Three-Layer Architecture​

Asset Pro uses three distinct structural layers:

Layer 1: Classification Hierarchy (What IS it?)​

Purpose: Organizational categorization

Structure: Industry → Level 1 → Level 2 → Level 3

Example:

Fleet Management → Commercial Vessels → Cargo Ship → Panamax Bulk Carrier

Use: Filter, group, and organize assets by business taxonomy

Layer 2: Physical Hierarchy (What's INSIDE it?)​

Purpose: Physical composition and assembly

Structure: Parent → Child → Grandchild

Example:

Vessel "ATLANTIC STAR" ├─ Main Engine "ENG-001" │ └─ Turbocharger "TURBO-001" └─ Auxiliary Engine "ENG-002"

Features:

  • Attach/detach events tracked

  • Relationship Entries (audit trail)

  • Automatic transfer propagation (children follow parent)

  • Cannot directly transfer child (must transfer parent)

Use: Track what components are installed in what assets

Layer 3: Components (What PARTS does it use?)​

Purpose: Link assets to standard BC Items

Structure: Asset → Item (standard BC Item table)

Example:

Vessel "ATLANTIC STAR" ├─ Installed: Oil Filter (ITEM: FILTER-001) on 2024-01-10 ├─ Installed: Fuel Injector (ITEM: INJECT-200) on 2024-01-12 └─ Removed: Old Filter (ITEM: FILTER-001) on 2024-03-10

Features:

  • Component Ledger (installation/removal history)

  • Item Journal integration (automatic component entries)

  • Links to inventory management

Use: Track parts consumed/installed in assets

See: Component Management

Data Integrity Features​

Posting Date Validation​

Rule: Cannot backdate transfers before asset's last holder entry

Why: Ensures chronological integrity of custody audit trail

Example:

  • Last holder entry: 2024-03-15

  • Try to transfer with posting date: 2024-03-10

  • Result: Error - "Cannot backdate before last entry"

Applies To:

  • Asset Journal

  • Asset Transfer Orders

  • Manual holder changes

  • Document integration

Hierarchy Integrity​

Circular Reference Prevention:

  • Cannot create: Asset A → parent: Asset B → parent: Asset A

  • System detects and blocks circular relationships

Maximum Depth:

  • 100 levels maximum

  • Prevents infinite recursion

Subasset Protection:

  • Cannot transfer child directly

  • Must transfer parent (children follow automatically)

  • Maintains family integrity

Holder Validation​

Before Transfer:

  • Asset must be at expected "from" holder

  • Purchase receipts: Asset must be held by vendor

  • Sales shipments: Asset must be at location

  • Prevents transferring asset you don't have

Key Terminology Quick Reference​

| Term

|

Definition

| | --- | --- | |

Asset

|

Physical item being tracked

| |

Holder

|

Current custodian (Location, Customer, Vendor)

| |

Industry

|

Top-level organizational container

| |

Classification

|

Hierarchical categorization (Type → Category → Model)

| |

Attribute

|

Custom field specific to industry/classification

| |

Parent-Child

|

Physical relationship (Engine inside Ship)

| |

Component

|

Standard BC Item installed in asset

| |

Holder Entry

|

Audit record of custody change

| |

Transfer Order

|

Formal document for asset movement

| |

Asset Journal

|

Batch tool for manual holder changes

| |

Classification Level

|

One level in hierarchy (e.g., "Fleet Type")

| |

Classification Value

|

Specific option (e.g., "Commercial Vessels")

| |

Posting Date

|

Effective date of holder change

| |

Transaction No.

|

Groups related transfers together

|

Common Patterns​

Pattern 1: New Asset Received from Vendor​

Scenario: Purchased new equipment, receiving from vendor

Steps:

  1. Asset already exists in system (created beforehand)

  2. Asset holder = Vendor

  3. Create purchase receipt with asset line

  4. Post receipt

  5. Result: Asset holder automatically changes: Vendor → Location

See: Purchase Document Integration

Pattern 2: Asset Sold/Rented to Customer​

Scenario: Selling/renting equipment to customer

Steps:

  1. Asset at Location

  2. Create sales order with asset line

  3. Post shipment

  4. Result: Asset holder automatically changes: Location → Customer

See: Sales Document Integration

Pattern 3: Internal Move Between Locations​

Scenario: Moving asset from MAIN to WAREHOUSE

Method A - Asset Journal (Quick):

  1. Open Asset Journal

  2. Add line: Asset-0001, From: MAIN, To: WAREHOUSE

  3. Post journal

  4. Result: Holder changed with MAN- document

Method B - Transfer Order (Formal):

  1. Create transfer order: MAIN → WAREHOUSE

  2. Add asset line

  3. Release transfer order

  4. Post shipment (asset leaves MAIN)

  5. Post receipt (asset arrives WAREHOUSE)

  6. Result: Formal archived transfer document

See: Asset Journal | Transfer Orders

Pattern 4: Asset to Vendor for Repair​

Scenario: Sending equipment to repair vendor

Steps:

  1. Asset at Location

  2. Create purchase return order with asset line

  3. Post return shipment

  4. Result: Asset holder: Location → Vendor (at repair shop)

When Repaired:

  1. Create purchase order (or receipt) for same asset

  2. Post receipt

  3. Result: Asset holder: Vendor → Location (returned from repair)

See: Purchase Document Integration

Best Practices​

Asset Numbering​

  • Use AI Name Suggester for professional, consistent names

  • Include key identifiers (model, serial, year) in description

  • Leverage auto-numbering for unique IDs

Holder Management​

  • Always know where assets are (Current Holder must be accurate)

  • Use appropriate transfer method for situation

  • Review Holder Entries regularly for audit purposes

Classification​

  • Design classification hierarchy before creating many assets

  • Use AI Setup Wizard for automatic structure generation

  • Keep classification levels consistent within industry

Attributes​

  • Only enable attributes if you'll use them

  • Define attributes at correct level (industry vs. classification)

  • Use Option type for predefined choices (better than Text)

Documentation​

  • Use Document No. in holder entries for traceability

  • Link asset references to purchase/sales documents

  • Maintain notes on Asset Card for important information

Don't try to learn everything at once. Start with creating a few test assets, move them between locations using Asset Journal, and view the Holder Entries. Once comfortable with basic operations, explore advanced features like parent-child relationships and document integration.