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