Asset Status

This article is part of the Fixed Assets module training. Click here for more information on the Fixed Assets module and here for more information on the Asset record, where the status is set.

Asset Status Indicator

The Asset Status Indicator provides a quick-glance view of the life cycle of the Asset. The following represent the available Asset Status options:

• Draft - Each new Asset will have a status of 'Draft' along with the date that the Asset draft was started
  

• CIP - When the 'Begin Construction' action is used on a 'Draft' Asset, the status will be set to 'CIP' and the 'Project Start Date' will be set as the date on the 'CIP' Status
  

• Active- When the 'Place in Service' action is used on a 'Draft' or 'CIP' Asset, the status will be set to 'Active' and the 'Placed in Service Date' will be set as the date of the 'Active' Status. Additionally, the depreciation postings will be listed in the 'Postings' tab. If the Asset is moved directly from 'Draft' to 'Active', the date on the 'CIP' Status will remain blank as 'CIP' was never a status for the Asset
  

• Active Fully Depreciated - Once an Asset has been fully depreciated but has not been retired, the status will update to 'Active Fully Depreciated' and the date of the final depreciation posting will be set as the 'Active Fully Depreciated' Status
  

• Retired - When the 'Asset Disposal' action is used on an 'Active' or 'Active Fully Depreciated' Asset, the status will be set to 'Retired' and the date of the disposal will be set in the 'Retired' status
  

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