Definitions for the Asset Status Field Values
Properties, buildings, equipment and furniture each have a field to describe their status. This Status field helps you identify assets that need to be evaluated for disposal, refurbishment, re-purposing, or storing (in the case of equipment and furniture.)
To help you describe an asset's current status, the application includes a variety of values in an enumerated list for the field. The following table describes the status definitions for property, buildings, equipment, and furniture.
Status Value |
Definition |
---|---|
Abandoned |
Asset has been vacated or left unattended, and is no longer being used. The asset is still owned by the enterprise. |
Disposed | Asset has been discarded as waste |
Donated |
Asset has been donated. |
Escrowed |
A third party has an asset that will become owned when a specific condition is met. |
For Sale |
Asset is for sale |
In Repair |
Asset is being repaired and is not in service |
In Service |
Asset is ready for use or being used |
In Storage |
Asset is being stored and is not in use but is usable |
In Use |
Asset is being used (same as status = In Service) |
Leased |
Asset is currently leased and in use |
Leased (Expired) |
Asset was leased and the lease has expired and is not longer in use |
Missing |
Asset is missing |
N/A |
Asset status is N/A |
Out of Service |
Asset that is no longer used; is being run minimally, or could be out of service for a while. |
Owned |
Asset is owned by your organization |
Owned and Leased |
Asset is owned and leased out to another organization |
Pipeline |
Asset is in the process of becoming Owned or Leased. It is not. currently owned or leased, and is not being used |
Salvaged |
An old asset that you decide to get rid of, but you still want to track it in the database. Same as Disposed. |
Sold |
Asset has been sold and is no longer in use |
Stolen |
Asset has been stolen and the current location is unknown. This status is used for furniture or equipment. |
Subleased |
Your organization is leasing the asset from an organization that is leasing the asset (you are the tenant) |
Sub Let |
Your organization is leasing an asset, and is then leasing that same asset to another organization (you are the landlord, even though you don't own the asset) |
Under Contract |
Asset is currently under contract and should be leased or owned in a short period of time |
Unknown |
Asset status is unknown |