Before an asset is added into Asset Infinity, the user would need to create certain predefined attributes of the asset such as its Status which could be Present, Not Present, In Use, Out of Stock, etc. based on the business needs of the organization. To learn more about how to Add/Create this Status in Asset Infinity, follow the steps shown below:
Menu > Application Settings > Status
The below shown screen will open:

To create a new status in the system, click on create button. The
following screen will open up:

Thus, by filling in the fields in the above form, you can Add/Create a Status in Asset Infinity.