Fixed Assets and Individual Materials

Hi gurus

I am having an issue with the functionality available for the individual material created when the Fixed Asset is procured.

I understand the use of the material as place to hold information that can be used for transfers, retirements or further acquisitions but it was my understanding that this material could also hold the physical location of the asset - and as a material could be transferred from one site to another.

Is this correct or is there another way to hold the physical location of an asset - separate to the cost centre for depreciation ?

Thanks in advance

Chris