You can create new assets by navigating to Settings > Assets. From there, you can add a new asset.
Asset Details
Now you simply need to give your Asset a name. You can categorise your asset and even limit it to specific locations (if any).
Appointing Asset Administrators
You can also appoint administrators and choose whether an asset needs to be approved by them. If turned on administrators will be notified by email when an asset is booked for an event.
Required Time
You can set up a time buffer between bookings where the asset will notify the person booking of a conflict. This is useful if the asset has a particular amount of time it needs to be set up for or packed up in.
Contact Templates
There is a default template for when asset bookings are approved or declined which can be edited under Settings > Built-in Contact Templates.
Each asset can have its own template though which can be set in this section.