Financial Management › Assets › Asset Families

Asset Families

You can classify assets and models that are based on an asset family. An asset family is a way to organize and classify assets to track specialized information about products, services, or equipment that you use. The asset family determines the information that you see on the page when you enter an asset.

The product provides a set of predefined asset families, such as computer, hardware, other, projects, service, and software. Your administrator can create user-defined asset families based on the internal structure of your organization. When you define an asset, select either a predefined asset family or a user-defined asset family.

For each asset family, you can create a hierarchy to track an asset to a precise location. Assets inherit the asset family from the model records on which they are based.