Asset Useful Lifecycle Guide

What is Asset Useful Lifecycle?

An asset’s useful lifecycle represents its expected operational lifespan. For example, laptops may have a 48 month lifecycle, while mobile devices may be set to 24 months.

Setyl uses this information to calculate:

• End-of-life dates – when assets are due for replacement or disposal.

• Reporting – visibility into aging or expired assets.

How to configure default lifecycles for each asset type

Administrators can define a default useful lifecycle for each asset type, ensuring consistency across all new assets.

To set or update defaults:

1. Navigate to Settings > Company Settings.

2. Select the Asset Types tab.

3. Locate the asset type you want to update, then select Edit.

4. Under Useful Life, enter a Default Useful Life Length (in months).

5. Optionally, choose a Depreciation Method (Straight Line or Declining Balance) and define the Depreciation Length if applicable.

6. Select Update to save your changes.

Once configured, any new assets of that type will automatically inherit the default useful life you’ve set.

How to view and manage Asset Useful Life

To view all assets and their useful life information:

1. Navigate to Assets > Asset Useful Life

2. The table displays each asset’s:

   • Purchase Date

   • Net Book Value

   • Useful Life (Months)

   • End Date (calculated based on purchase date and lifecycle)

   • Status (e.g. Active or Expired)

You can also filter assets, export data, or review those missing a purchase date to ensure complete records.

Additional resources

For further assistance please use the live chat at the bottom of the screen, or email us at hello@setyl.com.