Summary
You can use fixed asset classes, subclasses, and locations to classify fixed assets. This ability is useful to filter reports and views and to analyze assets by class, subclass, and location. Locations are often used so assets can be located if the business has multiple sites. For example, if you have three warehouses in operation, you could designate each warehouse as separate locations and track assets that exist at each of the warehouse locations.
Classes, subclasses, and locations can always be changed for a fixed asset. This ability still applies even when you have already posted transactions to the fixed asset.