Our Services: Accounts Payable Accounting Business Office Capital Asset Accounting Cashier's Office Controls & Accountability Costing Policy & Analysis Education & Support Services Equipment Management Employee ID Card Program Extramural Funds Accounting Faculty Home Loan Program General Accounting Internal Control Materiel Management Payroll Project Management Office Student Accounting Systems Development Systems Operations Tax Accounting Travel Management

Feedback Comments, questions or
  suggestions? Let us know.

Home  ·  FAQ  ·  Forms

How to Complete an Equipment Physical Inventory

Use these step-by-step instructions to complete an Equipment Physical Inventory. Although physical inventories are only required for items with an original acquisition value at or above the current equipment threshold of $5000, an Equipment Certification Form must be completed for each active custodial code/cost center that is due for a physical inventory.

Physical inventories are due October 31st of every other year. Each custodial code is assigned to certification cycle 1 or cycle 2. Cycle 1 custody code inventories are due on October 31st of odd-numbered years. Cycle 2 custody code inventories are due on October 31st of even-numbered years.

Note: Cost Centers are the chart H equivalent of campus custodial codes.

	Steps	What's Involved
1	Determine if physical inventory is due	Determine which custodial codes belong to your department and which ones are assigned to you. Review list of custodial codes due for physical inventory.
2	Verify that received dates are in CAMS	Compare the Equipment Register (170) and the Asset Lookup (143) queries. Add received dates to Capital Asset Maintenance Screen (CASM), if necessary. Run the Equipment Physical Inventory Listing (204).
3	Complete the physical inventory	Physically locate and view items with an original acquisition value of $5000 or above listed on the inventory. Screen for excess. Verify asset information. Note any changes/discrepancies directly on your equipment report.
4	Update CAMS	Complete the CASM or the online Asset Maintenance tool for changes to equipment attributes. Complete CAMS documents, if needed.
5	Complete the Equipment Certification	After initiating any required CAMS documents, obtain the appropriate signatures and mail the original certification form to the Equipment Management Division. Send e-mail to Equipment Management (optional).