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GlossaryAsset Management

What is an asset class?

Also known as: asset category, asset type, category.

Definition

An asset class (or category) groups similar assets — e.g. IT, vehicles, furniture — sharing fields, depreciation settings and policies.

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An asset class groups assets that are alike in nature and use. In accounting, classes such as "Motor vehicles" or "Computer equipment" typically share a depreciation method and useful life. Operationally, categories decide which fields you capture (a vehicle needs a registration number; a laptop needs a serial and OS) and which rules apply (which zones it may be in, whether it needs calibration).

Why it matters

Setting defaults per class keeps the register consistent and saves re-entering the same values for every asset. It also makes reports meaningful — total NBV of vehicles, audit results for IT.

Example
Class: Computer equipment → fields: serial, OS, RAM; depreciation: straight-line, 3 years, salvage $0; audit: every 6 months.

In Asetavo

Categories carry their own custom fields and depreciation defaults — cost, salvage value, useful life — applied consistently to every asset in the category.

In practice

Want to understand this in practice?

GuideHow to build an asset registerWhich fields to capture, how to structure locations and classes, and how to keep the register accurate.Read the guide →
Related features
Asset registerDepreciation
Related terms
Asset registerAn asset register is the master list of every asset an organization owns, with its ID, location, custodian, value, status and history.Asset hierarchyAn asset hierarchy organizes assets into parent-child levels — site, system, equipment, component — so data rolls up and maintenance targets the right level.Useful lifeUseful life is the period (or amount of output) over which an asset is expected to be used by the business — the span its cost is depreciated over.DepreciationDepreciation spreads the cost of a fixed asset over its useful life, recording part of the cost as an expense each period as the asset is used up.
From definition to done

Put asset class to work with Asetavo

One platform for the asset register, QR/barcode/NFC/UHF RFID tagging, zones and alerts, audits, maintenance and depreciation. Start free on Starter — no card required.

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