Inventory Procedures

April 15, 2024 is the deadline for returning completed Fiscal Year 2024 inventories to Capital Assets.

Overview | Instructions for Using Barcode Scanners | Instructions for Using a Camera Phone, Tablet, or Computer | Instructions for Units Returning the Excel Spreadsheets | Instructions for Other Changes | Contacts

I. Overview

Physical inventories are conducted biennially for both the endowed and contract colleges.

The table below specifies which colleges/divisions must conduct a physical inventory for fiscal years 2023 and 2024. For those units listed in the first column (Even Fiscal Years, e.g., 2023-2024), inventories must be completed and returned to Capital Assets no later than April 15, 2024. Inventory lists will be sent to units by the end of January.

If your unit appears on the even fiscal year (FY) 2023-2024 schedule, but you did not receive an inventory list, please contact Capital Assets immediately.

Note: If you are not scanning your inventories and will be submitting the updated Excel spreadsheets, please use Excel to manipulate your data. It's important not to alter the format or column order of the lists. In previous years, converting inventory files into other spreadsheet applications has affected the upload process, requiring those spreadsheets to be entered manually. When sorting data, please also be careful that entire rows are sorted together.

Physical Inventory Process Overview

1. Capital Assets has emailed to you the "Capital Equipment Inventory" letter, along with a list of your unit's inventory as it is recorded in the capital assets system as of December 31, 2023.
   
   Note: Assets with a "Y" status - Control Purposes Only, Government, or Other Owned must be inventoried even if the asset is below the $5,000 threshold. These items are included in your inventory list.

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II. Instructions for Using the Barcode Scanners

For detailed instructions with screenshots, see the Capital Asset Inventory Scanning User Guide (PDF).

1. If you are using a Bluetooth scanner, you will need to pair the scanner with your device (laptop, tablet, android phone). There should be directions in the scanner box to do this. If you purchased a scanner with a USB cable, plug the scanner into your device and install the scanner software.
2. Once you have the scanner plugged in or paired with your device, go to the Capital Asset Inventory Form in a supported browser.
3. Enter either the building name or building code, which will populate the room dropdown menu in the next step.
4. Choose the correct room from the dropdown menu.
5. Scan the barcode tag.
6. Once scanned, enter the condition code.
7. SAVE
8. Scan the next item in the room, enter the condition code and save (steps 5 through 7).
9. Once all the items in a room have been scanned, go to another room, enter the proper room code and repeat steps 5-7.
10. If you go to another building to scan items, make sure that you update the building code as well.
11. If you have items that cannot physically be scanned, you can manually enter the data on the webpage.
12. Once you've scanned an asset, the information can be viewed immediately in KFS under the Capital Assets tab. You will be able to see the results of your scanning in the Capital Assets dashboard the following day by running the following Dashboard query for your unit. Go to Dashboards\Financials\Capital Assets\Capital Assets Inventory. Enter your org code and click the Apply button. Units that use the barcode scanners don't need to return an Excel spreadsheet. The asset information has been updated through the scanners.

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III. Instructions for Using a Camera Phone, Tablet, or Computer

For detailed instructions with screenshots, see the Capital Asset Inventory Scanning User Guide (PDF, 589 KB).

1. With the device you will be using to scan, go to the Capital Asset Inventory Form in a supported browser. 
2. Click Allow to give the browser permission to use the camera. The camera to share should be the one on the device you're using.
3. Follow steps 3-12 above under Instructions for Using the Barcode Scanners.
4. Units that use a phone, tablet, or computer should not return an Excel spreadsheet. The asset information has been updated through scanner devices.

IV. Instructions for Units Returning the Excel Spreadsheets

Units that don't have scanner devices available must complete physical inventories using the Excel spreadsheet and submit them to Capital Assets.

1. Locate all capital equipment in your unit. Match the barcode tag to the tag number on the list provided by Capital Assets. This process ensures that assets are counted that do not appear on your inventory.

2. Update the data in the appropriate fields in the Excel spreadsheet.

Note: These changes are important. They are loaded directly into our inventory system and become the updated official university record.

Units can change the following Excel spreadsheet fields:

• Building Code — Use valid building codes as listed on the facilities inventory.
• Room — Use valid room numbers, as listed on the facilities inventory.
• Condition — Use valid condition codes listed in KFS.
• Inventory Date — The date that the inventory was conducted
• Retired Date (if needed) — Enter the date the asset was retired. Also, submit an asset retirement e-doc.

If the data in these fields (Building Code, Room, and Condition) does not match the maintenance table data in KFS, an error report will be created and sent back to the units for correction.

Building and room codes - Enter a building and room code corresponding to the Facilities Space Inventory. Units should have copies of their Facilities Space Inventories with proper building and room codes. Room doors are usually numbered. If you need a room list, please email Capital Assets.

For outdoor equipment, please update with "Y&O" for "Yard & Outdoor."

If the asset is at an employee's home, enter the employee's office information in the building and room codes.

If the asset is located at an off-campus site, enter an off-campus address in KFS.

Condition code - Update with the appropriate condition code. Common codes in use are E-Excellent; F-Fair; G-Good; P-Poor; S-Scrap.

3. When all data on your spreadsheet accurately reflects your inventory, email the corrected list to Capital Assets by April 15, 2024. We will be uploading the data from your spreadsheets, so please do not mail paper documentation to our office.

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V. Instructions for Other Changes - Both Scanned and Non-scanned Inventories

1. Organization (org) changes:

If an asset on your list no longer belongs in your unit, update the org for an asset directly in KFS by initiating a Capital Asset Transfer e-doc. In KFS, click Capital Assets and then click Asset. Enter the asset number or tag number in the search screen, and then click the Search button to find the asset. In the search results, click Transfer to complete the Asset Transfer e-doc. Do not use the Transfer e-doc to change the Organization Owner Account number within your unit. If you want this updated, to further track the asset, email Capital Assets. The Transfer e-doc does create journal entries and we do not want to do that unless the asset is being transferred to a unit in another Cornell college.
 

2. Retired assets:

Retire assets in KFS using the Asset Retirement Global e-doc. Enter the retirement date on the inventory spreadsheet under the "Retired" column only if you are not scanning your inventories.

Note: Disposals should be reported throughout the year. Therefore, the number of disposals processed during the inventory process should be minimal.
 

3. New assets:

If an asset is found that is not on your inventory list or in KFS, you must contact Capital Assets about adding the asset in KFS. The asset must meet the definition of a capital asset according to University Policy 3.9, Capital Assets. Do not add these items directly to the spreadsheet.
 

4. Missing Tags:

For the items on your list without a tag number, assign a tag and update the list accordingly. You can also update the record in KFS using the Asset (Edit Asset) e-doc. You must have the role of CAM Processor to update the information in KFS. To edit an asset, go to KFS. Under Capital Assets, click on Asset. Enter the Asset Number in the search screen, and then click the Search button to find the asset. In the search results, click Edit, and then add the tag number. To make changes to the CAM processors in your unit, please visit KFS Access Requests.
 

For additional information about KFS Capital Asset module e-docs, see the Capital Assets Standard Operating Procedures.

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VI. Contacts

If you have any questions or concerns about the physical inventory list, please contact Capital Assets or one of these Capital Assets staff members:

• Karen Pappalardo, 255-5657
• Tina Zhu, 255-2484

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