When a user unchecks the Active box, I would like the equipment status to change. How can I do this?

There is no direct action between unchecking the Active status box and changing the equipments tracking status. However, this can be accomplished through event configuration. If you wish for this to be completely event-driven you will need to block the ability to change the Active checkbox in profile manager. Then, create a misc. event called Deactivate Equipment. Using equipment update rules you can then uncheck the box and set the equipment status. Create another event called Activate Equipment to reverse the procedure.

The side-benefit to this procedure is the change will be logged in history and you can also collect notes as to why equipment was activated/deactivated in the system.

This same method can be used to modify other fields within equipment records.