What are asset lines, and why do I need them?

Asset lines are a consolidated grouping of project costs that are allocated to project assets. This allocation ensures that the project costs incurred while creating an asset are assigned appropriately.

How these asset lines are grouped is defined by the asset line grouping method, and allocation of these asset lines to project assets is defined by the asset cost allocation method.

For example, when you work on a project, you typically secure materials and talent for the project in bulk; but when you finally want to allocate these costs to the actual assets that make up your project’s deliverables, it becomes important to associate a certain percentage of the bulk costs to each specific asset. Project asset lines help you do that.

Ideally, all project asset lines get automatically assigned to project assets based on the asset cost allocation method. However, if you want to assign asset lines to assets manually, choose the None asset cost allocation method. This simply means that the Generate Asset Lines process will create asset lines, but will not attempt to allocate them to project assets. You will then need to manually assign these project asset lines to assets using the Projects > Assets UI or perform this task in bulk using the Unassigned Asset Lines FBDI or the REST API for Asset Lines. For larger volumes, you can build integrated Excel workbooks that utilize REST APIs using Visual Builder Add in for Excel (VBAFE).