Set up categories for the things your company owns - before you start adding them one by one.
Before you can register any asset, you first need to define what kind of asset it is. Asset Types let you group items - like laptops, vehicles, or office chairs - so you can track and report on them consistently.
Common examples
Laptop
Desktop
Mobile Phone
Office Chair
Printer
Vehicle
What you can set for each asset type
Asset Type Name - e.g., "Laptop"
Depreciation Method - how the asset's value goes down over time (e.g., a fixed amount each year)
Depreciation Rate - how fast the value drops (e.g., 20% per year)
Useful Life - how long the asset is expected to last before replacement (e.g., 3 years)
Warranty Period - how long the manufacturer covers repairs
Consumable or Non-Consumable - is this something that gets used up and replaced often (like ink cartridges), or something you track long-term (like a laptop)?
Description - any extra notes for your team
Don't worry if depreciation isn't your area - your Finance team can help set these values, or you can leave them at default and update later.
How to create an asset type
Go to HRMS → Asset Management → Asset Types.
Click Add Asset Type.
Enter a name (e.g., "Laptop" or "Office Chair").
Set the depreciation method, rate, useful life, and warranty period - or skip these for now and fill them in later.
Mark it as Consumable or Non-Consumable.
Add a description if it's helpful for your team.
Click Create to save.
Once your asset types are set up, every asset you register later will automatically follow these rules - so you only need to configure things once per category, not once per item.
Next: Add your vendors →