Tracking Expensed Assets
Many companies have a threshold amount for setting up depreciation of their assets. However, many organizations have expensed assets that should still be tracked including cell phones, laptop computers, monitors, and small tools, etc.
You can use the same asset tracking infrastructure to manage these assets, regardless of your intent to depreciate these.
Use Asset Class IDs to Differentiate Between Different Types of Assets
For tracking within Dynamics GP, consider setting up different asset classes in the Class ID field. The Class ID assignment (asset class assignment) can then identity if the assets are tracked financially (or not) as well as physically. When tracked physically, a check in/check out assignment can be put in place.
By managing these "expensed" assets, you manage where the asset is and who has it. This will add accountability across the organization and reduce the need to replace these items simply because there is not recorded accountability. You can even add a replacement value using one of the several user-definable fields available in Dynamics GP. Adding the responsibility for items with an assigned replacement value will increase accountability across your organization.
More information can be found here.