Fixed vs multi-quantity assets

Wasp Asset tracks two kinds of assets. Knowing which one fits what you’re tracking helps you set things up correctly from the start. This page explains each kind and when to choose it.

Fixed assets

A fixed asset is an individual item you want to track on its own — a laptop, a vehicle, a forklift, a piece of lab equipment. Each fixed asset gets its own unique Asset Tag (usually a barcode), and you can follow that one item through its whole life: who has it, where it lives, when it’s serviced, and how it depreciates in value.

Choose a fixed asset when:

Every item is unique and worth tracking individually.
You need to know exactly where a specific item is or who has it.
You want to depreciate the item or tie it to purchase, warranty, contract, or funding records.

Multi-quantity assets

A multi-quantity asset (MQA) is a group of identical, interchangeable items that you’d rather count than tag one by one — safety goggles, printer toner, spare batteries, boxes of supplies. It still has one Asset Tag, but that tag identifies the whole stockpile rather than a single item, and you track a Quantity on hand rather than following one unit through its life. The same tag can even hold quantity at more than one location — each location gets its own quantity, so you’re never limited to a single site or shelf.

Choose a multi-quantity asset when:

You have many identical items and don’t need to tell them apart.
You care about how many you have at a location, not about any single unit.
Tagging each item individually would be impractical.

Side-by-side comparison

	Fixed asset	Multi-quantity asset
Tracked by	An Asset Tag that identifies one item	An Asset Tag that identifies a stockpile, plus a Quantity at each location
Best for	Unique, high-value, or serviced items	Identical, interchangeable items
Depreciation	Yes	No
Maintenance / work orders	Yes	No
Can be a group parent	Yes	No — but it can be added as a member of a fixed asset’s group
Example	One laptop, one vehicle	40 pairs of goggles, 12 toner cartridges

Which list shows which?

The Fixed Asset list shows only fixed assets.
The Multi-Quantity Asset list shows only multi-quantity assets, with a Quantity column.
The All Asset list shows both together.

See Viewing your assets for how to use each list.

Troubleshooting

Which kind should I pick for something like tools? If you’d ever check out, service, or depreciate a specific one, make it a fixed asset. If they’re interchangeable and you only care about the count on hand, make it a multi-quantity asset.
I set something up as multi-quantity but need to track units individually — do I have to start over? No. Use Convert from the Actions menu to pull some or all of the quantity out as new fixed assets.
I created something as a fixed asset but it should have been multi-quantity — can I convert it back? There’s no built-in conversion in that direction. Dispose the fixed asset you created by mistake, then add it again as a multi-quantity asset. If it already has check-out, maintenance, or other history you don’t want to lose, check with your Wasp Asset administrator before disposing it.
Why can’t I depreciate or add a work order to one of my assets? Depreciation and maintenance apply to fixed assets only. If those options are missing, the asset is likely set up as multi-quantity.
Can a multi-quantity asset belong to a Group? Yes, as a member — you can add it with a quantity to a fixed asset that’s set up as a group. A multi-quantity asset can’t be the group itself, though; only a fixed asset can. See Groups.