Create Inventory Sheet – A summary of the activity
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The fixed assets have to be verified or checked for its condition in every location. Fixed assets in a location are selected for verification. You can verify some or all the assets in the selected location. The list prepared, forms the basis for physical verification of assets in respective locations. After the inventory list is prepared, if assets are transferred from one location to another or retired, then the inventory results will not be accurate. For this reason, the assets picked up for verification are frozen in “Asset Capitalization” business component. The asset tags, which are “Frozen”, cannot be included in any other inventory sheet for verification.
You can provide a unique identifier for the inventory sheet and provide a description to it. You can search for the assets using location of the asset, the group to which the asset belongs, asset number, asset tag number, finance book in which it is recorded, the cost center in which the asset is present, category to which the asset belongs, date on which the asset verification is due, and the total cost. You can also retrieve all the assets from the child location of the location specified and the child group of the group specified. You can also retrieve the assets, which are newly acquired, newly transferred and whose verification is long pending (Overdue assets). The system retrieves all the assets based on the search criteria. You can select the asset and add it to the list. The assets can be appended to the list till the inventory sheet is created.
The system updates the status of the sheet to “Fresh” after creation and status of the asset tags to “Frozen” once included in the inventory sheet. The system updates the login ID of the user to the created by and the system date to the created date.
What you can do in this activity
Generate inventory sheet for verification
Selecting location along with the child location for inventory verification
Select the assets, which are overdue for verification
Freezing the assets included in the inventory sheet
View the assets included in the inventory sheet
Generate inventory sheet for verification
The inventory sheet is created for verification of the asset. The assets listed in the sheet are compared with the actual assets in the location during verification.
Go to “Create Inventory Sheet” page.
Carry out the search for retrieving the asset details.
Select the assets to be verified in the inventory sheet.
Selecting location along with the child location for inventory verification
You can include the assets from a particular location. You can also comprise the assets in the child location of the selected location. You can include some of the assets in the location or all the assets in the location or child location for preparing the list.
Got to “Create Inventory Sheet” page.
Enable the child location option along with the asset location.
Select the assets, which are overdue for verification
You can select the assets, which are long pending for verification and include in the inventory sheet.
Go to “Create Inventory Sheet” page.
Select the “Inventory Overdue option in the “Asset Category” field for preparing the sheet.
Select the assets, which are newly acquired for verification. You can select the assets, which have been newly acquired and not verified. These can be included in the inventory sheet.
Select the assets, which are newly transferred for verification. You can select the assets, which have been newly transferred to the location and not verified. These can be included in the inventory sheet.
Freezing the assets included in the inventory sheet
After the inventory list is prepared, if assets are transferred from one location to another or retired, then the inventory results will not be accurate. For this reason, the assets under verification are frozen in “Asset Capitalization” business component. The asset tags, which are “Frozen”, will not be picked up “Asset Inventory” business component and “Asset Disposal” business component for transfer or retirement respectively. The asset tags, which are “Frozen”, are not included in any other inventory sheet.
Go to “Create Inventory Sheet” page.
Create the inventory sheet with the assets selected from the location.
The assets are “Frozen” once included in the inventory sheet.
View the assets included in the inventory sheet
You can append the assets with the already existing assets in the inventory sheet before creating. You can also view the assets included in the sheet.
Go to “Create Inventroy Sheet” page.
Add the assets from the location in the inventory sheet and view them.