---
title: Manage various assets through asset classes
description: The default asset classes are Hardware, Software License, Consumable, Bundle, Software Entitlement, and Facility. These general classes can be used to manage various assets.
locale: en-US
canonical_url: https://www.servicenow.com/docs/r/australia/it-asset-management/asset-management/c\_AssetClasses.html
release: australia
product: Asset Management
classification: asset-management
topic_type: concept
last_updated: "2026-10-09"
reading_time_minutes: 1
breadcrumb: [Use, Base Asset Management, Common applications, Asset Management]
---

# Manage various assets through asset classes

The default asset classes are Hardware, Software License, Consumable, Bundle, Software Entitlement, and Facility. These general classes can be used to manage various assets.

If the general classes that are provided aren't appropriate for a specific group of assets, consider creating a new asset class. For example, a fleet of cars could be tracked in a custom asset class named Vehicle. Before creating new asset classes, analyze business needs to see if the general classes can be used. Managing a lot of asset classes can be difficult to maintain.

Built-in functionality allows you to use asset classes for financial tracking, in a model bundle, and as a pre-allocated asset.

-   **[Create an asset class](https://raw.githubusercontent.com/ServiceNow/ServiceNowDocs/australia/markdown/australia/it-asset-management/asset-management/t_CreateAnAssetClass.md)**  
Creating an asset class requires defining a new table and creating a corresponding application and module, then adding the new asset class to new or existing model categories. The default asset classes are Hardware, Software License, and Consumable. These general classes can be used to manage various assets.
-   **[Create license assets](https://raw.githubusercontent.com/ServiceNow/ServiceNowDocs/australia/markdown/australia/it-asset-management/asset-management/t_CreatingLicenseAssets.md)**  
You can manage your organization's software license assets.
-   **[Set asset states and substates](https://raw.githubusercontent.com/ServiceNow/ServiceNowDocs/australia/markdown/australia/it-asset-management/asset-management/t_SettingAssetStatesAndSubstates.md)**  
Use asset states and substates to track assets accurately and at a detailed level.
-   **[Add depreciation to an asset](https://raw.githubusercontent.com/ServiceNow/ServiceNowDocs/australia/markdown/australia/it-asset-management/asset-management/t_AddingDepreciationToAnAsset.md)**  
Depreciation is the reduction in the value of an asset over time.

**Parent Topic:**[Using Base Asset Management](https://raw.githubusercontent.com/ServiceNow/ServiceNowDocs/australia/markdown/australia/it-asset-management/asset-management/using-asset-management.md)

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