Difference between Rotating assets and non-rotating assets

Difference between Rotating assets and non-rotating assets

Assets can be either rotating or non-rotating.

Rotating Asset	Non- Rotating Asset
1. Rotating assets are assets that are interchangeable, such as motors, pumps, fire extinguishers, or PC monitors.	1. Non- Rotating Asset are asset that are not interchangable such as Land, Buildings,
2. Rotating assets have both a unique asset number and an inventory item number.	2. Non- Rotating assets have only unique asset number.
3. You can use the item number to track assets as a group as assets are moved in and out of inventory and other types of locations.	3.  A non-rotating asset has a unique asset number, but does not have an item number because it is not tracked in inventory.
4. The asset number is useful for tracking instances of assets as they are moved from one location to another and from one site to another.	4. Non-rotating assets do not move in and out of storerooms.
5. Before you can create a record for a rotating asset in the Assets application, the rotating item record must first be created in the Item Master application.
Example of a rotating asset A company might have four identical (same make, same model) centrifugal pumps, so all four pumps would have the same item number. To track the use, the repairs, and the locations of each individual pump, each pump has its own, unique asset number.