VALUER · Insights
How to prepare for an asset inventory
Organising physical counts, photographs, asset labels and record reconciliation.
Agree the scope
Define whether the assignment covers fixed assets, stock or both. Agree locations, the reference date, output format and responsible contacts.
Prepare records and access
Provide the existing register with asset identifiers and locations. Arrange safe access and support staff where needed.
Physical verification
The agreed work may include counting, photography, labelling and barcode recording. Consistent identifiers make future asset recognition easier.
Reconcile the results
Physical findings are compared with the supplied register. Differences should be reviewed with responsible contacts. An inventory and an asset valuation are separate assignments and should be scoped accordingly.
Which register fields should you prepare?
- Existing asset identifier and description;
- Model or serial number where available;
- Site, room or warehouse zone;
- Quantity and responsible contact where recorded.
How are differences reviewed?
An asset may have moved to another room, been recorded under another name or appeared more than once in the register. An initial mismatch is not automatically a shortage. Identifiers, locations and information from responsible contacts should be checked.
This article is a general guide. The scope of each assignment should be agreed in advance.
Contact us