Asset subtypes

Asset subtypes are subcategories of assets within an asset type, used primarily for reporting. If there are variations among the assets of the asset type, you can use an asset subtype to group these variations.

For example, within the asset type Equipment, you might have Computer and Photocopier subtypes. Within the asset type Vehicles, you might have Regular and Luxury subtypes.

How are asset subtypes used?

Asset subtypes are optional, and your company is responsible for deciding whether you will use asset subtypes. If you choose to define asset subtypes, you must first define an asset type.

Note: If you use subtypes for asset classes, you should assign a unique asset account to each subtype.

You can let accounts associated with a type default to its subtypes, or you can assign a separate set of accounts to the subtypes.