Physical Inventory Asset

The Physical Inventory Asset page allows authorized users to enter the physical inventory rules for a specific asset.

Go to Financial Management > Asset Management > Physical Inventory.
Access the Physical Inventory Asset List page and click the Asset Number hyperlink assigned to the physical inventory item.
To make changes to the asset profile, select the Inventory Complete and/or the Update Asset Profile check box.
Select the Inventory Complete check box to indicate that inventory has been completed for this item. It does not mean the item has necessarily been found.
1. In Inventory Date, select or enter the date on which the inventory for this item was completed. The Inventory Date must be greater than or equal to the Batch Initialization Date, the Acquisition Date of the asset, and the Capitalization Date of the asset. The Inventory Date cannot be greater than the Completed Date.
2. In Inventory by User, select the ID of the user that actually completed the inventory.
In Comments, you can optionally enter comments describing the physical inventory transaction.
Select the Update Asset Profile check box if, as a result of the physical inventory, changes need to be made to the asset’s status, accounting profile, or location information.
1. In Effective Date, select or enter the date the change will take effect; this date is also stored in the asset history.
1. In Status, select the revised status of the asset. Available options are: Retired/Scrapped, Lost/Stolen, Sold, Donated, Trade In, Canceled or Active/Found.
2. In G/L Organization Set, change the G/L organization to which the asset is assigned.
3. Select the Record in G/L check box if future transactions (including this physical inventory affecting the asset) will be recorded in the general ledger.
4. In G/L Distribution Profile, select the accounting category (e.g., governmental or business) if the asset post physical inventory.
5. In Accounting Category, select
6. In Depreciation Status, select