How to Perform an Equipment Inventory

Yearly Administrative Review

At lease biannually, the University of California requires departments to conduct a physical inventory of all equipment with a cost greater than $5,000. Departments are also responsible for maintaining the status of non-inventorial departmental assets.

Inventory List

You may access a complete equipment inventory list at any time through the Asset Management System (AMS). Under the reports tab, choose Equipment Inventory Listing by Custody Code.

Audits

In addition to University-required inventories, Equipment Management performs random sample audits of inventory by visiting your department and viewing equipment. If your department is chosen for an audit, Equipment Management will notify you in advance.

For more information on inventorial equipment, please see Equipment Management Business and Finance Bulletin 29 (Bus-29) and 38 (Bus-38).

What to doHow to do it

1. Review your department’s inventory list.

  • Review the Equipment Inventory Listing by Custody Code report. (Access this reports through the Reports tab of the AMS.)
  • If you have disposed of equipment, complete a disposal transaction for each item.

2. Complete the inventory.

  • Physically locate and view each piece of equipment listed on the inventory.
  • Confirm the asset number, description, building and room number, serial number, current user, utilization/condition codes and title.
  • Note any changes or discrepancies in AMS.

3. Make the changes in AMS.

  • Record any changes you noted during the physical inventory process in AMS.
  • Update the AMS asset record or complete disposal, transfer or loan transactions in AMS.

4. Notify Equipment Management that the inventory has been completed.

  • Complete and certify the Annual Certification of Equipment Inventory.