Asset Management

Record hostel assets, track condition, maintenance, and depreciation‑style current value.

Overview

Asset Management tracks physical items such as furniture, appliances, and fixtures across locations. It centralizes lifecycle state, condition, value, and service history—supporting audits, budgeting, and maintenance planning.

• Placement: Tie assets to building/unit/room/bed for accurate responsibility and inspections.
• Lifecycle: Move items from procurement to allocation to maintenance and eventual replacement.
• Valuation: Optional depreciation maintains an estimate of current value over time.

How It Works

• Each asset has a lifecycle (Procured → Allocated → Under Maintenance → Replaced/Disposed).
• Maintenance and Service histories store work and costs.
• Current Value is calculated from purchase cost, date, and depreciation rate.

Step‑by‑Step Guide

• Go to Services → Asset Management → New.
• Enter Name, Category, Purchase Date/Cost, and Location.
• Update State as the item moves through its lifecycle.
• Log maintenance/service records when needed.

Fields Table

Field name explanation : Current Value is calculated using purchase date, cost, and depreciation rate.

Fields explanation

• Name: Asset title for identification.
• Asset Code: Internal tag or barcode reference.
• Category: For grouping and budgeting.
• Location: Building/Unit/Room/Bed placement.
• Purchase Date/Cost: Financial basis for value tracking.
• Warranty Expiry: Service eligibility end date.
• Depreciation Rate: Annual % used to compute Current Value.
• Current Value: Computed remaining value for planning.
• Condition: Health indicator from Excellent to Damaged.
• Lifecycle State: Where the asset is in its usage journey.

Tips

• Use categories to budget replacements and audits.

Common Mistakes

• Forgetting to update lifecycle state after allocation or disposal.

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