AssetAccountant™ allows you to separate depreciation data AND include individual asset identifiers. This is achieved using two distinctly different features: Classifications and Custom Fields. While there is no obligation to use them for every asset, they are absolutely helpful in organising your data.
Classifications are intended to be used for situations where you have a small number of values that are reused across multiple assets or leases (for example Location, Profit Centre or Financier).
Custom Fields are intended for unique values (like Serial Number) that typically apply to a single asset or lease.
Classifications: [Full Guide]
Classifications sort assets custom groups such as profit centres, locations, projects, account codes, etc. They are used in the journals to report data based on these custom groups, for instance:
You can set up new Classifications under Register Settings > Classifications.
Custom fields are unique fields that do not affect journal data in any way.
You can add as many custom fields as you like to your assets.
Typically you may include fields such as VIN, serial number, colour, user, warranty date, URL data, etc.
These fields can be imported from CSV in Bulk Actions.
Example use case
If you use AA's powerful lease accounting capabilities, you may need a report to show the outstanding lease liability, in any given month, separated by the different financiers you have.
This kind of granular report is pictured below.
Notice you can group this report by Classification, but not by Custom Fields.