How to take the physical inventory of assets

What is it for?

It confirms that the assets in the accounts really exist and where they are. You print the labels, record what you found, and the product shows what is missing, what is somewhere else and what has no card.

When to use it?

• At the end of the year, before closing the accounts.
• When you move premises or change the person responsible for the assets.
• When the accountant or an auditor asks for proof that the assets exist.
• Do not use it for stock of goods: that is counted in Inventory. To remove an asset from the accounts, see how to scrap or sell an asset.

Where to find it?

Accounting › Record › Partners and assets › What is there to do with the assets? › Supporting lists:

• Asset labels: prints the labels.
• Physical inventory of assets: the counting campaigns.

Before you start

• Your profile is Accountant.
• The assets to count are in use. An asset in preparation or already scrapped is not included in the count.
• You have a barcode reader or your phone's camera, or you type the codes by hand.

How to use it

1. In Asset labels, click Print labels (PDF) and stick each label on the asset. If the assets already have labels, go to the next step.
2. In Physical inventory of assets, click New. In Locations, choose where you are going to count. Leave it empty to count the whole company.
3. Click Start the campaign. The state becomes In progress and the Counts list shows each expected asset as Not found. Expected Count says how many there are.
4. Click Register Counts. If you are in a location, choose it in Location Found.
5. In Code Read, scan or type the code, for example AF/00001, and click Register. Last result says what happened. Repeat for each asset.
6. At the end, click Done. You can go back to Register Counts while the campaign is in progress.
7. Check the list and click Close campaign. In the “After closing, the counts cannot be changed. Continue?” window, click Confirm.
8. Click Print divergences to get the list as a PDF.

Closing cannot be undone

After closing, the counts can no longer be changed. To correct them, run another campaign.

Expected result

The state becomes Closed. Each line has its result and Found Count says how many of the expected assets were counted. At the top, Not Found, Other Location and Unknown Count show how many there are of each.

Result	What it means	What to do
Found	The asset is where it should be	Nothing
Not found	The asset was not scanned	Look for it. If it does not exist, talk to the certified accountant about scrapping it
Found in another location	The asset was scanned somewhere else	See the next section
Found without a card	The code does not belong to any asset	Look for the card or register the asset

Taking the inventory creates no journal entries. A missing asset only leaves the accounts when it is scrapped.

Correct the locations

When there are assets in another location, the closed campaign shows Update locations. Click the button and, in the “The assets found in another location are moved to where they were found. Continue?” window, click Confirm. Each asset's form then has the location where it was found.

Count without the screen

With the campaign in progress, Count sheet (XLSX) and Count sheet (CSV) download the list so you can count on paper or in another program.

1. In the sheet, type Sim in the Counted (Yes) column of each asset found. If it was somewhere else, type the location in the Location Found column, as it appears in the product, for example DEM/Stock.
2. In the campaign, click Import counts. In Sheet (XLSX or CSV), choose the file and click Import.
3. Read the Result, for example “Counts imported. Found: 2. Already counted before: 0. Found outside the campaign: 0.”, and click Done.

The whole sheet is checked before anything is recorded: one wrong line stops the import of the whole sheet. The Result then starts with “Nothing was imported. Correct the sheet and import it again:” and says which line it is.

“Row 2: the location "Armazém Norte" does not exist. Use the name of a location as shown in the 'Expected location' column, or leave it empty.” Correct the location in the sheet and import it again.

“Row 2: no asset has the label EQ-777. Check the label; to keep a code without a card use "Register counts" on the campaign.” A code without a card cannot come in through the sheet. Remove the line from the sheet and record the code in Register Counts.

Important notes

• The list only sees assets in use, in the active company and in the chosen locations. An asset that was never registered only appears if its code is scanned.
• Found Count does not count assets without a card. In the example, there are 3 lines scanned and 2 found.
• By default, the label code is the asset's code.

Common problems

“There are no assets in use at the chosen locations: choose other locations (or none for the whole company) before starting the campaign.” Click Close and change the Locations. Leave the field empty to count everything.

Last result: “Read or type the code of the label before registering the count.” You clicked Register without a code. Type it in Code Read and click again.

Last result: “Already counted: Viatura ligeira de mercadorias”. The asset was already scanned in this campaign. It does not count twice: move on to the next one.

Last result: “Unknown code, registered without a card: EQ-999”. Check that the code was read correctly. If the asset exists and has no card, the line stays as Found without a card.