How do I manage primary assets?
A primary asset serves as the main asset for a collection of assets. In the usual scenario, an asset attaches sub-assets to a main asset. The sub-assets, or secondary assets, have lives and value depreciation rates that are different from the primary asset and are therefore, not included in the cost of the primary asset.
Example: The cost of a police car may be depreciated over a five-year period. The assets that are incorporated with the vehicle may include a light bar, laptop, radio, radar, and in-car video. These smaller assets may be depreciated over a much shorter period. Since the sub-assets are essential to the functionality of the vehicle, the assets together—the vehicle and its related sub-assets—represent the cost of the asset that is in use. The vehicle is the Primary Asset.
Use Manage Primary Assets to
- Add a primary asset
- Remove assets from a primary asset
- View sub-assets linked to the primary asset
Do this...
Open Connect Asset Management > Assets > Manage Primary Assets.
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How do I manage primary assets?
A primary asset serves as the main asset for a collection of assets. In the usual scenario, an asset attaches sub-assets to a main asset. The sub-assets, or secondary assets, have lives and value depreciation rates that are different from the primary ...
How do I delete a primary asset?
You cannot delete a primary asset when related transactions exist. A related transaction is a transaction that is linked to another transaction to show how they are connected. Do this... 1. Open Connect Asset Management > Assets > Manage Primary ...
How do I add a primary asset?
A primary asset is the main or parent asset record to which related assets or sub-assets may be connected. It represents the primary item being tracked in Asset Management, while associated components or secondary assets are linked beneath it. For ...
How do I update a primary asset?
You might update a primary asset to correct or revise important information about the main asset record, such as its description, value, location, department, or depreciation details. Because related sub-assets may depend on the primary asset, ...
How do I add a primary asset?
You would add a primary asset to create the main asset record that related sub-assets or component assets can be connected to. Primary assets help organize complex assets, such as buildings, vehicles, or equipment systems, into a clear parent-child ...