In ERPNext, an asset refers to a valuable resources owned by the business which includes tangible items like equipment, machinery, and property, as well as intangible assets like patents or trademarks.

The Asset Management module in ERPNext enables businesses to efficiently track, manage, and maintain these assets throughout their lifecycle. This includes recording asset details such as purchase information, depreciation methods, maintenance schedules, and disposal activities.

By leveraging ERPNext's asset management capabilities, organisations can ensure optimal utilisation of resources, accurate financial reporting, and compliance with accounting standards, ultimately contributing to improved operational efficiency and informed decision-making.

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