How to Complete a Physical Inventory

Step 3: Conduct Physical Inspection INTRO 1 2 3 4 5 NEXT
	What to do	How to do it
A.	Physically locate and view items with an original acquisition value of $5000 or above listed on the inventory. Screen for excess.	Physically view each asset on the 204 report. Verify: Asset Number Description Manufacturer Model Number Serial Number Location Condition Code (see list at end of 204) Asset Decal is on the front of the item Note additional equipment that doesn't appear on your equipment report, but you think should. Note items that are not being used.
B.	Note any changes/discrepancies	Discrepancies on any of the above items should be noted on your equipment report. This information will be needed for updating the information in Transaction Processing. Note any items that cannot be accounted for on the report. The appropriate documents will need to be completed in CAMS once the physical inventory is complete.

Step 3: Conduct Physical Inspection INTRO 1 2 3 4 5 NEXT

What to do

How to do it

Physically locate and view items with an original acquisition value of $5000 or above listed on the inventory. Screen for excess.

Physically view each asset on the 204 report. Verify:

Note additional equipment that doesn't appear on your equipment report, but you think should.

Note items that are not being used.

Note any changes/discrepancies

Discrepancies on any of the above items should be noted on your equipment report. This information will be needed for updating the information in Transaction Processing.
Note any items that cannot be accounted for on the report. The appropriate documents will need to be completed in CAMS once the physical inventory is complete.