What is the purpose of adding assets under the rate cards Assets Covered related list?

The purpose of adding assets under the rate cards Assets Covered related list is to associate expenses with those assets. By linking specific assets to rate cards, organizations can effectively manage and allocate costs related to those assets. This helps in understanding the financial aspects of asset management, such as determining the total cost of ownership and calculating expenses over time, which is critical for budgeting and financial analysis.

Rate cards often contain pricing information for various services related to those assets, including maintenance, support, and other operational costs. Therefore, having a complete picture of the expenses associated with each asset allows organizations to make informed decisions about asset utilization, maintenance scheduling, and potential replacements or upgrades. Essentially, this relationship enhances financial oversight and strategic planning in asset management.