Fixed asset inventory count

An inventory is a periodic count of the company's fixed assets. If the company has a large number of fixed assets, it is recommended to carry out an inventory count using barcode readers of inventory numbers.

Below is an example of carrying out an inventory count of fixed assets in PANTHEON.

CASE SUMMARY Adele Administrator is responsible for carrying out an inventory count of fixed assets at Tecta. The inventory count checks whether the fixed asset is still in use, whether it is still located at the same department and whether it is still performing its function. The inventory count of fixed assets is carried out as follows: Making the inventory count Creating an inventory document type Entering data into the inventory document type Creating a fixed asset count report

1. Making the inventory count

The person responsible will make an inventory count of Tecta's fixed assets and enter the data into the program.

The inventory list is printed from the menu Financials | Fixed assets | Fixed assets.

Clicking the toolbar button (Reports) opens the window Fixed asset reports.

For the printout, select the desired printout type, in this case 281 - Inventory sheet of fixed assets.

In this case, the person responsible only needs to count a small number of fixed assets, which is why the inventory count will be done manually.

HINT For more information on how to use carry out an inventory count using a barcode reader, see the chapter Inventory Count by using Barcode Reader.

2. Creating an inventory document type

To enter an inventory count, the person responsible first creates an inventory document type with an ID IN00 - Fixed asset inventory count in the Document types register (fixed assets).

HINT For instructions on how to create a new document type, see the chapter Creating a new document type.

In the section Class of document type, the checkbox Inventory count is checked, as shown in the image below.

3. Entering data into the inventory document type

To enter the data, the person responsible opens the menu Financials | Fixed assets | Inventory count.

Then, the appropriate document type IN00 - Fixed asset inventory count is selected.

This opens a window consisting of the toolbar, inventory header and inventory item lines.

3.1 Inventory document header

In the inventory count header, the Commission members who will sign the inventory record are selected.

In this case, the person responsible selects Marc Manufacture, Head of Manufacturing, and Sally Sales, Head of Wholesale, from the drop-down list.

The person responsible enters the date of the inventory count into the field Date.

3.2 Entering data into the inventory document item lines

Into the inventory count item lines, the person responsible enters the status of the fixed asset in the column Type for all fixed assets in the company.

The following statuses are displayed in the drop-down list:

• M - Missing
• N - New
• P - Moved
• O - Unchanged
• D - Destroyed
• Z - Obsolete
• L - For disposal
• X - Unspecified

Once the inventory is complete and validated, this is indicated by a check in the checkbox Confirmed in the inventory header.

4. Creating a fixed asset count report

Clicking the toolbar button (Reports) prints the inventory list by type of the fixed asset counted.

In this case, the person responsible selects the report type 00F- Fixed asset count, as shown in the image below.

The report is submitted to the members of the inventory count commission for signature.