10 Ways To Ensure The Success Of Your Next Inventory Project (Part 2)

This is the second in a series of tips for how to ensure the success of your next fixed asset inventory project. Our team of appraisers recommends the following to help keep data clean and projects on schedule.

1. Ask questions
There is no such thing as asking too many questions. If you aren’t sure why we are doing something or are curious about our process, please don’t hesitate to ask.

2. Keep your hands off that keyboard.
Okay, not completely off the keyboard but understand that using your Asset Management Software during an inventory project can create confusion. If you have to update asset data during an inventory project be sure to keep us in the loop.

3. Keep your pen handy.
We absolutely want you to continue to take inventory of incoming and new assets while we are there. Work with us on the best time to update your database to avoid data confusion.

4.Use software if you have it.
Keeping track of your asset data throughout the year will not only help you comply with GASB 34 and other legislation but will also save time on your next inventory project.

5. Review preliminary reports.
If you can, make it a priority to review the preliminary reports when you receive them. This allows us to stick to our schedule, making changes and getting final reports back to you as quickly as we can.

If there is one key message, it is just this: keeping the lines of communication open at all times during the inventory project is imperative. The more we know and the more you know, the more likely your experience will be a positive one!

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