Physical Inventory Corrective Actions

After running the Asset Physical Inventory Comparison process, you may need to correct some of the physical inventory information, depending on the status returned by the process.

The following table lists the posting statuses that require corrective action, and a description of each corrective action:

Status	Description	Corrective Action
Difference	Indicates that the comparison process has identified a difference in the location, number of units, or employees for this asset.	Location difference: Transfer the asset to a different location to resolve the difference between the asset book and the physical inventory data. Unit difference: If the number of units in the asset book is greater than the number of units in the physical inventory data, you can: Retire units Retire the asset If the number of units in the asset book is less than the number of units in the physical inventory data, you can: Create a new assignment Reinstate the units that were retired Add the additional units as new assets Employee difference: Transfer the asset to a different employee to resolve the difference between the asset book and the physical inventory data.
Asset not in book	Indicates that the comparison process couldn't locate a unique asset in the asset book using the asset number, tag number, and serial number that you entered.	The possible corrective actions are: If the data is incorrect: Enter the correct asset number, tag number, or serial number. Change the status to New. Rerun the Physical Inventory Comparison process. If the data is correct: Enter asset information, such as the description, category, and asset key. Change the Unit Difference Action to Add asset.
Noninventory asset	Indicates that the asset listed in the physical inventory data is not marked for inclusion in physical inventory.	If the asset requires physical inventory, you must: Enable the In physical inventory check box for the asset. Change the status to New. Rerun the Physical Inventory Comparison process.
Multiple matches	Indicates that the comparison process has identified more than one asset match in the asset book for this physical inventory entry.	The possible corrective actions are: Verify the physical inventory data for the asset. Enter at least one unique identifier, such as the asset number, tag number or serial number. Change the status to New. Rerun the Physical Inventory Comparison process.