Equipment not Found During Inventory

First & Second Occurrence

For tracking and reporting purposes, the first time and the second time a piece of equipment is not found during an annual physical inventory the item will remain active in the database but be marked as first not found in the first instance, and second not found in the second instance.

Third Occurrence

The third time a piece of equipment is not found during an annual physical inventory, the item will be inactivated in the database, coded as disposed with a disposal code of X- Not Found During Inventory and, if a capitalized item, treated as a deletion for financial statement purposes.

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