Inventory processing sequence (Inventory module)

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

When you conduct an inventory, you need to complete the steps in the order that is outlined below. Click any of the links in the outline to see more detailed information.

  1. Start a new inventory.

    Note: After an inventory is started, you can modify which assets or data are included.

  2. Print the necessary worksheets and reports needed for conducting the physical inventory.
  3. Conduct the manual physical inventory.
  4. Reconcile the physical inventory to the Fixed Assets CS Inventory asset list.
  5. Print inventory reports for missing or undetermined assets.
  6. For Missing and Undetermined assets, repeat steps 3 - 5 using the Asset Detail worksheet until all assets are reconciled with an inventory status of New, Checked out, Found - changed, Found - not changed, or Disposed. For details about each of these statuses, see Inventory statuses.
  7. Optional: Review inventory changes. When an asset has been satisfactorily reviewed for changes made during the inventory, mark the asset's Review checkbox in the Inventory Asset List window.
  8. Optional: Re-review assets with red checkboxes. Double-click the checkbox to once again mark it as reviewed.
  9. Finalize inventory changes to Fixed Assets CS.
  10. In Fixed Assets CS, accept or discard changes in the Asset Import tabs as necessary. These tabs will show any changes that are made to fields that affect how depreciation is calculated.

    Changes to the following fields affect how depreciation is calculated:

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

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