Physical inventory is performed once a year. The Equipment Liaison will be provided a handheld scanner
and is responsible for scanning equipment in coordination with the Fixed Assets Office. Equipment Liaisons are encouraged to periodically review their equipment lists in preparation for the annual inventory as well as the Equipment Procedures Manual. The Equipment Liaison Checklist outlines the inventory process from start to finish.
Equipment Inventory Procedures
Timing of Inventory
Inventory timing depends on whether a department has purchased their own scanner. Departments owning scanners have from July 1st to March 31st to conduct their scanning and can do so at their own pace. For departments borrowing scanners, the Fixed Assets Office works with the Equipment Liaison to select one month each year to perform a physical inventory. The Equipment Liaison should inform individuals within their unit of the scheduled inventory date and ensure that all locations will be accessible. All ETF and equipment over $5,000 that is off site, remote/home use, should be brought into the office for scanning whenever possible. The Equipment Liaison will work with the Fixed Assets Office when equipment is not available for scanning.
Before the Inventory
- Review your inventory list. Complete a Request for Tagging of New Equipment for items that are not
currently included on your inventory list.
- Identify assets that are no longer needed and initiate a Surplus Workflow Request(s).
An updated report may be requested from Fixed Assets once these items have been completed.
- Review report for missing information (serial numbers, manufacturers, models, etc.) and make notes to
obtain information during scanning.
- Determine a starting point for the area and office in a logical direction; ensure that you have access to
every location with equipment, including offices, lockable private rooms, docking stations, storage
rooms, labs, and classrooms.
- Review the instructions for using the handheld scanner and contact Fixed Assets if you have questions.
Inform your department of the physical inventory date(s) and estimated time you will be visiting each
area for scanning. This will help ensure cooperation and minimize disruptions.
During the Inventory
- Print the initial inventory list, provided by Fixed Assets, and carry it with you during the physical
- Scan all visible barcodes. Check the scanner to ensure that the number of
items has increased after each scan. You may also mark the items on the initial inventory list to help
- Identify barcodes that are unscannable, if equipment is missing a tag or an incorrect serial number is
recorded and make a note on the inventory list. Contact Fixed Assets for a new barcode label.
- Items that cannot be found should be noted on the inventory list.
After the Inventory
- Return the scanner (if borrowed) and inform Fixed Assets of the items that were unable to be scanned and any missing information that was discovered.
- After the initial scanning, Fixed Assets will send an updated list to you.
- Locate missing items through a search of department locations and review of equipment paperwork
including transfer forms and surplus documentation.
- Schedule a date with Fixed Assets to verify remaining items and report any items that are still unfound.
An inventory is considered complete when:
- All equipment listed on the inventory report has been scanned;
- Any equipment that was not located has been appropriately documented;
- New purchases are updated in the university inventory records.