Status of an asset is defined as the current asset description, i.e., what is it's condition, is it allocated to someone, is it in use or not etc.

In our application, Asset Infinity, all the assets are divided into mainly three types 

  1. Unallotted asset
  2. Allotted asset and 
  3. Discarded asset 
Furthermore, there are sub-categories provided based on condition of assets like In stock,out of repair, lost, sold etc.

When you add an asset, it is by default an Unallotted Asset unless otherwise specified.