Finalizing an inventory (Inventory module)

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See also: Inventory processing sequence

Note: The Fixed Assets Inventory module is licensed separately from Fixed Assets CS.

When the physical inventory has been reconciled to the Inventory module's asset list and any inventory changes have been reviewed, you can finalize the inventory. Finalizing an inventory updates the Fixed Assets CS asset list with any new assets, disposals, or changes to existing assets that were entered during the inventory.

  1. Open the active inventory.
  2. Click the Finalize button in the upper-right corner of the Inventory Asset List window.
  3. A dialog prompts you to confirm that you want to finalize the inventory. Click the Yes button to finalize the inventory.

    Once you finalize (or close) an inventory, it cannot be re-opened for data entry.

  4. If there are any assets with an inventory status of Missing or Undetermined, a dialog warns you that the inventory may include assets that are not finished being reconciled. Click the Yes button to continue finalizing the inventory.

    Notes

    • Any changes that were made to assets with an inventory status of Found - not changed or Undetermined do not transfer to Fixed Assets CS when the inventory is finalized.
    • Any changes you made to an asset's associations, situs, activity, or images transfer to the Fixed Assets CS asset list. On an asset-by-asset basis, you must accept or discard any other changes you made using the Asset Import tabs.
  5. Fixed Assets CS opens automatically. If changes were made to fields that affect how depreciation is calculated for an asset with an inventory status of Found - changed, Checked out, Disposed, Missing, or New, each of those assets will appear in the Asset Import tabs. Highlight each asset and accept or discard the change.

    Changes to the following fields affect how depreciation is calculated:

    • Fields in the Disposal, Vehicle/Listed, and Home Office tabs
    • The Cost, Method, Life, Amortization section, Used, or Date in service columns if those columns are included in the inventory

Notes

  • Fuchsia colored lines on an activity folder icon in the folders block indicate that the folder contains Asset Import tabs (that is, asset information that needs to be accepted or discarded).
  • When information on all of the Asset Import tabs within an activity folder has been accepted or discarded, the Asset Import tabs will disappear.

Internal notes


Support: The separate license needed to access the Inventory Module is named DINVNAME.DAT.

  • You first need to verify if the firm is licensed for the Inventory module in Flash or EMS. If they are, have the user download their licenses. If the firm encounters issues downloading their licenses, you can download the firm's license, rename their DWNAME.DAT to DINVNAME.DAT, and then email the license file you created to the firm.

    Never walk an external user through renaming their DWNAME.DAT license. This is to be completed internally only if a firm is having problems with downloading their licenses.

  • If the firm is not licensed for the Inventory module, you will need to submit an EMS Help Desk ticket so that the license can be made available to the firm through CS Connect. If the firm does not license the Inventory Module and is interested in doing so please transfer the user to Sales (x751363).

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