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Physical Inventory Audit Services
Assertive Industries, Inc. (Assertive) conducts complete fixed asset physical inventory audits
and reconciliation of clients’ assets nationwide. Assertive provides Asset Catalog inventory
reports detailing asset Location Control Number, Description, Manufacturer, Model Number,
Serial Number, and Bar Code Number. In addition Assertive provides Reconciliation, New Asset,
and Missing Asset Reports in both hard copy and Excel file format. All Assertive reports are
provided in Excel, Access, text, or csv file formats for upload to PEER and other ERP
financial systems.
Physical Inventory Process
Assertive recommends a durable, standard Code 3 of 9 format bar code label be utilized for
asset tagging purposes. For office-based equipment, a premium polyester label with both bar
code and human readable number can be utilized. For any assets utilized in extreme
environments, a metal bar-code label is required.
All bar codes supplied and utilized by Assertive meet the following specifications:
Extremely durable, waterproof, scratch and smear resistant
UL approved
Extra aggressive adhesive adheres to wood, plastic and metal
Available in all symbologies, various text sizes, and sequentially numbered
Each bar code label includes a human readable preprinted number which corresponds to the bar-code number
To ensure a successful physical inventory project, Assertive requires floorplans, facility
addresses and square footage, key departmental contacts and the fixed asset listing.
Upon receipt of the client’s information, Assertive conducts an analysis of the fixed asset
records and facility base to facilitate the logistics and scheduling processes. In addition,
Assertive works with the client to establish Asset Standards for consistency and efficiency
in the collection of asset description information. This analysis facilitates the inventory
and reporting processes and brings to light any issues prior to the commencement of the
physical inventory. In addition, review of your sample fixed asset listing enables
Assertive to present estimated Reconciliation costs.
Upon completion of the fixed asset record analysis, physical inventory and bar coding
performed by Assertive Industries, shall include:
1. Site Analysis
Determine site parameters for inventory staffing and project duration
Plan scheduling to minimize interruption of daily business activities
Prepare needs report (supplies or special equipment)
Determine security procedures
2. Site Preparation
Identify all asset standards, and bar-code parameters
Outline floorplan sectors, label building, floor, division, workstations and rooms by department, agency, and organization
Prepare outline of facility floor plans for control number assignments
Develop asset location verification set-up
Conduct verification walk-through and cross-check
Control Number Utilization
Assertive utilizes Control Numbers to identify specific asset locations. The Control Number
ties responsibility area (departments), buildings, addresses etc. together and distinguishes a
specific room, cubicle, or office within a building. The Control Number is a bar code label
placed in the doorframe or on the cubicle of each space that is inventoried. The Control
Number is noted on the floorplan to enable Assertive to conduct quality control spot checks
and aids in the reconciliation process. Utilizing the PEER\FA System, the Control Number will
also allow the client to track asset transfers by simply scanning the bar code on the asset
being transferred and scanning the Control Number where the asset is being moved. Because all
the pertinent location information is tied to the Control Number-floor room, building,
department- asset transfer and retirement changes are easily tracked. Assertive recommends
Control Numbers in conjunction with the PEER\FA system for complete asset tracking control.
3. Data Collection Team Selection
Data Manager selects team of certified inventory specialists
Data Manager oversees all data entry and performs periodic site audits
Site Manager assigned to oversee data collection, and personnel performance
Product team leaders are assigned to each asset squad
Full training and site orientation is mandatory for all site technicians
4. Data Capture
On-site staging area is selected
Site Manager orients team leaders before each data collection session
Control number location identifiers are assigned and implemented
Asset information is collected: Control Number location, description, manufacturer, model, serial, & asset tag numbers and optional end user for IT equipment
Bar-code labels are affixed to assets
Each data collection session is cataloged and files backed-up
5. Data Audit
Asset location audits are periodically conducted during and after inventory capture
Inventory sample reports are examined
Data change forms are used to update base information
Control Number Utilization
Assertive has developed the PEER\FA fixed asset management system to facilitate the physical
inventory and reconciliation processes. Assertive utilizes the PEER\FA system to compile
physical inventory data, conduct physical inventory reporting, conduct reconciliation reporting,
and present discrepancy reporting.
Assertive imports the clients fixed asset records from your financial system in order to
conduct a system reconciliation of our physical inventory findings. The physical inventory and
system reconciliation reporting process is outlined here:
Client’s fixed asset file information is imported into PEER\FA system for analysis
Assertive downloads complete physical inventory data from Portable Data Collection Devices (PDCD) into PEER\FA system
Assertive compiles physical inventory Asset Catalog Report
In PEER\FA system reconciliation of Assertive ’s physical inventory findings with client’s existing records by serial number, bar code number or asset tag number is conducted
Assertive provides client with reconciliation report
Assertive provides client with “New Asset Report” (assets collected but not able to be matched to client’s fixed asset records by serial number, bar code or asset tag number)
Assertive provides client with “Missing Asset Report” (assets on client’s fixed asset records but not able to be attached with physical inventory data by serial number, bar code number or asset tag number)
System reconciliation results will vary based on client’s fixed asset record accuracy and detail within the Financial System asset listing
Manual reconciliation will be necessary in order to maximize reductions in personal property taxes and insurance costs
Assertive provides client with fixed asset inventory reports: Asset Catalog, Reconciliation, New Assets, and Missing Assets in hard copy and Excel file format.
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