Skip to main content

Asset Lot Based Management

Group and Manage Assets in Lots for Streamlined Tracking and Control​

In organizations where multiple similar assets are acquired, used, or depreciated together, Asset Lot Based Management becomes essential. PrismERP supports grouping assets into lots—enabling simplified acquisition, tracking, assignment, and disposal processes for batches of assets.

What is Asset Lot Based Management?​

Asset Lot Based Management refers to grouping assets that share similar characteristics (e.g., purchase date, category, cost) into a single identifiable lot. Rather than managing each asset individually, companies can operate on the lot level for efficiency—while maintaining traceability and financial control.

Key Features​

  • Lot Creation at Purchase or Opening Automatically or manually group similar assets into lots upon purchase or data entry.

  • Lot-Based Tracking Monitor the status, movement, and valuation of a group of assets under a single lot number.

  • Batch Depreciation Apply depreciation calculations across an entire lot instead of individual items.

  • Lot Assignment Assign entire lots to departments, projects, or branches in one action.

  • Lot Disposal or Transfer Perform disposal or inter-branch transfers for whole lots or selected items from a lot.

  • Linked Documentation Maintain vendor invoices, purchase orders, and warranty records at the lot level.

  • Search & Reporting by Lot Quickly locate and report on asset lots using lot numbers, dates, categories, or branches.

Use Cases​

  • IT departments purchasing 50 computers in a single order
  • Hospitals acquiring medical equipment in sets
  • NGOs managing relief goods or donor-funded equipment in batches
  • Universities assigning lab kits to departments by lot
  • Manufacturing companies tracking lots of tools or machinery

Integration with Other Modules​

  • Asset Management: Organize and manage items grouped into lots
  • Depreciation: Automate depreciation by lot
  • Procurement: Tag purchase orders to asset lots
  • Inventory: Sync asset lots with inventory batches
  • Fixed Asset Register: Maintain a combined view of individual and lot-based assets

Workflow Example​

  1. Purchase Asset in Bulk

    • Navigation Asset New Asset Purchase Order
    • Select items to be grouped and assign a Lot Number

  2. View Lot

    • Navigation Asset Asset Lot List
    • See all lots, their item counts, total values, and usage

  3. Depreciate Lot

    • Navigation Asset New Depreciation Voucher
    • Apply depreciation at the lot level

  4. Assign or Dispose

    • Assign or dispose of assets in bulk using the lot ID

Conclusion​

Asset Lot Based Management in PrismERP offers a structured and scalable approach to managing groups of assets efficiently. It’s perfect for high-volume acquisitions and enables better operational control, financial accuracy, and asset visibility across your organization.