--- title: What is an Asset? description: In SurePact, an asset refers to a tangible asset owned by your organisation. This includes machinery, vehicles, equipment, structures such as bridges or buildings, or any infrastructure including road --- [Skip to content](https://support.surepact.com/what-is-an-asset-1#main-content) English Show submenu for translations [Submit a ticket 🎫](https://support.surepact.com/kb-tickets/new?hsLang=en) [Customer portal](https://portal.surepact.com/tickets-view?hsLang=en) ![0224\_Surepact\_Logo-Primary-1.png\]](https://support.surepact.com/hs-fs/hubfs/0224_Surepact_Logo-Primary-1.png?height=43&name=0224_Surepact_Logo-Primary-1.png) Open main navigation Close main navigation - English Show submenu for translations - [Submit a ticket 🎫](https://support.surepact.com/kb-tickets/new) - [Customer portal](https://portal.surepact.com/tickets-view) - Visit our website! Visit our website! Hello. How can we help you? - There are no suggestions because the search field is empty. 1. [SurePact | Knowledge Base](https://support.surepact.com/?hsLang=en) 2. [Risk, Compliance & Asset Management](https://support.surepact.com/risk-compliance-asset-management?hsLang=en) 3. [Asset Management](https://support.surepact.com/risk-compliance-asset-management?hsLang=en#asset-management) # What is an Asset? In SurePact, an asset refers to a tangible asset owned by your organisation. This includes machinery, vehicles, equipment, structures such as bridges or buildings, or any infrastructure including roads, playgrounds, pools, water treatment plants, etc.   Keeping tabs on your assets through the SurePact Assets register helps your team stay on top of what you own, making it easier to plan maintenance and accurately track the costs involved in creating those assets. When you create an asset record in SurePact, you get a clear view of the expenses linked to building the asset, by connecting it to a Contract and Project. This connection also gives insight into how the asset construction was funded, especially if the project or contract is tied to a grant.   Keep in mind that the asset register in SurePact is not designed to calculate depreciation. This task should be handled by your organisation's finance system. However, we can assist in setting up integration between SurePact's asset register and your organisation's finance system, to streamline the process and ensure efficient management of asset depreciation.    There are two ways to add an asset to the SurePact register: [from scratch](https://support.surepact.com/creating-an-asset-1?hsLang=en), and during the closeout of a contract ([Contract Lifecycle Stage 5 – Review](https://support.surepact.com/the-contract-lifecycle-stage-5-review-1?hsLang=en)**, Step 5 – Closeout**). During contract closeout, the last question you are asked before committing the contract closeout report is whether one or more assets were delivered as part of the contract, and whether to add the asset(s) to the register. Ticking the latter box will add the asset to the [Asset Register](https://support.surepact.com/asset-register-1?hsLang=en).   ![](https://support.surepact.com/hubfs/Knowledge%20Base%20Import/surepact.zendesk.comhcarticle_attachments9353341507471-2.png)     - [Getting Started (For All Users)](https://support.surepact.com/getting-started-for-all-users?hsLang=en) - [Funding Programs (For Grantmakers)](https://support.surepact.com/funding-programs-for-grantmakers?hsLang=en#main-content) - [Creating & Managing Funding Programs](https://support.surepact.com/funding-programs-for-grantmakers?hsLang=en#creating-managing-funding-programs) - [Application Round(s) Setup](https://support.surepact.com/funding-programs-for-grantmakers?hsLang=en#application-rounds-setup) - [Application Review, Allocations, Funding Agreements](https://support.surepact.com/funding-programs-for-grantmakers?hsLang=en#application-review-allocations-funding-agreements) - [Program Delivery and Reporting](https://support.surepact.com/funding-programs-for-grantmakers?hsLang=en#program-delivery-and-reporting) - [Funding Opportunities (For Applicants & Recipients)](https://support.surepact.com/funding-opportunities-for-applicants-recipients?hsLang=en#main-content) - [Applying for a Funding Opportunity](https://support.surepact.com/funding-opportunities-for-applicants-recipients?hsLang=en#applying-for-a-funding-opportunity) - [Tracking & Managing Applications](https://support.surepact.com/funding-opportunities-for-applicants-recipients?hsLang=en#tracking-managing-applications) - [Grant Management & Reporting](https://support.surepact.com/grant-management-reporting?hsLang=en) - [SurePact Records](https://support.surepact.com/surepact-records?hsLang=en) - [Portfolios](https://support.surepact.com/portfolios?hsLang=en) - [Projects & Contracts](https://support.surepact.com/projects-contracts?hsLang=en#main-content) - [Project Management](https://support.surepact.com/projects-contracts?hsLang=en#project-management) - [Managing Contracts Within Projects](https://support.surepact.com/projects-contracts?hsLang=en#managing-contracts-within-projects) - [Risk, Compliance & Asset Management](https://support.surepact.com/risk-compliance-asset-management?hsLang=en#main-content) - [Risk & Issue Management](https://support.surepact.com/risk-compliance-asset-management?hsLang=en#risk-issue-management) - [Asset Management](https://support.surepact.com/risk-compliance-asset-management?hsLang=en#asset-management) - [Administration & System Setup](https://support.surepact.com/administration-system-setup?hsLang=en#main-content) - [External Assessors](https://support.surepact.com/administration-system-setup?hsLang=en#external-assessors) - [Common Processes](https://support.surepact.com/common-processes?hsLang=en) - [Release Notes & Support](https://support.surepact.com/release-notes-support?hsLang=en#main-content) - [What's New in Version 6?](https://support.surepact.com/release-notes-support?hsLang=en#whats-new-in-version-6) - [What?! 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