Editing inventory cycle

This activity allows you to modify the inventory cycle of the asset. Tell me more.

Select the “Edit Inventory Cycle” link under the “Asset Inventory” business component.

The “Edit Inventory Cycle” page appears.

Enter the following fields in the group-box to search for the asset details:

Asset Location Code	The code identifying the location in which the asset exists (Alphanumeric, 20). The system retrieves the assets belonging to the location specified here.
	Help facility available.
Asset Class Code	Use the drop-down list box to specify the asset class code. All the asset class defined in the “Create Asset Class” activity of the “Asset Type Definition” business components are displayed in the drop-down list box. The system displays “All” by default.
Asset Group Code	The code identifying the group to which the asset belongs (Alphanumeric, 25). The system retrieves all assets belonging to the group specified here.
	Help facility available.
Asset No.	The number identifying the asset (Alphanumeric, 18). The assets must be defined in the “Create Simple Asset” activity of “Asset Capitalization” business component.
	Help facility available.
Asset Description	The textual description pertaining to the asset (Alphanumeric, 40). Enter the description in full or specify it partially using the * characters. The system retrieves all the assets whose description is similar to the value entered here.
Finance Book	Use the drop-down list box to specify the finance book in which the asset details are posted. All the finance books mapped to the organization are listed in the drop-down list box. The system leaves the field blank by default.
Tag No.	A number identifying the asset tag (Integer). The tag is defined in the “Create Simple Assets” activity of “Asset Capitalization” business component.
	Help facility available.
Tag Description	The textual description pertaining to the asset description (Alphanumeric, 40). Enter the description in full or specify it partially using the * characters. The system retrieves all the assets whose tag description is similar to the value entered here.
Cost Center	A code identifying the cost center (Alphanumeric, 10). The cost center is defined in the “Create Center/Unit” activity of “Cost Setup” business component. Enter the cost center in full or specify it partially using the * characters. The system retrieves all the asset that have cost centers similar to the value entered here. Help facility available.
Inventory Due Date From	The starting date in the range of dates during which the inventory is due for verification (Date Format). The system retrieves all the assets whose due date matches the date entered here. The date entered must be less than the date entered in “To” field.
To	The ending date in the range of dates during which the inventory is due for verification (Date Format). The system retrieves all the assets whose due date matches the date entered here.
Inventory Cycle	Use the drop-down list box to specify the inventory cycle of the asset. The various inventory cycles available are
	Monthly – Indicates that the assets have to be verified monthly.
	Quarterly – Indicates that the assets are to be verified every three months.
	Half Yearly – Indicates that the assets are to be verified every six months.
	Yearly – Indicates that the assets have to be verified on a yearly basis.
	Not Required – Indicates that the assets need no verification.
Asset Cost From	The starting amount of the asset in the range of asset cost for which the details are to be retrieved (Decimal). The system retrieves all the assets whose cost is greater than the amount entered here. The amount entered here must be lesser than the amount entered in the “To” field.
	If this field is left blank and the “To” field is entered, then the system retrieves the assets from the first assets in the database till the asset whose cost is the value entered in the “To” field.
To	The ending amount of the asset in the range of asset cost from which the details are to be retrieved (Decimal). The system retrieves all the assets whose asset cost is less than the value entered here.
	If this field is left blank and the “Asset Cost From” field is entered, then the system retrieves the voucher whose amount is the value entered in the “asset Cost From” field till the end of the database.

Click the “Get Details” pushbutton to retrieve the asset details in the multiline:

The system displays the following fields in the “Asset Details” multiline:

Asset No.	The number identifying the asset.
Asset Description	A textual description pertaining to the asset.
Tag No.	The number identifying the asset tag.
Tag Description	The textual description pertaining to the asset tag.

Modify the following fields if required:

Inventory Cycle	Use the drop-down list box to modify the frequency in which the assets are verified. The various inventory cycles available are
	Monthly – Indicates that the assets have to be verified monthly.
	Quarterly – Indicates that the assets are to be verified every three months.
	Half Yearly – Indicates that the assets are to be verified every six months.
	Yearly – Indicates that the assets have to be verified on a yearly basis.
	Not Required – Indicates that the asset needs no verification.

The system displays the following fields:

Inventoried Date	The date on which the asset is verified or inventoried.
Inventory Due Date	The date on which the verification for the asset is due.

Note: If the inventory cycle is “Monthly”, then the due date is the same as the inventoried date in the succeeding month.

If the inventory cycle is “Quarterly”, then the due date will fall on same inventoried date after 3 months.

If the inventory cycle is “Half Yearly”, then the due date will fall on same inventoried date after 6 months.

If the inventory cycle is “Yearly”, then the due date will fall on same inventoried date after 12 months.

If the due dates is not a valid date, then the system takes the immediate preceding valid date as the due date.

Asset Location Code	The code identifying the location in which the asset exists.
Asset Class Code	The code identifying the class to which the asset belongs.
Asset Cost	The total cost of the asset.
Finance Book	The finance book in which the asset postings are made.
Cost Center	The code identifying the cost center.

Check the box in the “Select” column of the multiline to mark the asset.
Click the “Edit Cycle” pushbutton to modify the inventory cycle of an asset.