Retiring Checked out Assets in EZOfficeInventory

Whether you are a large or small business, you understand the risk of losing assets in the field during routine tasks. While this is not uncommon, it can lead to data discrepancies if not accounted for correctly.  Many companies struggle with reporting these incidents accurately in their systems. Now EZOfficeInventory provides a robust solution. 

With a single click, you can simply retire an asset that has been misplaced or lost. Not just this, you can also activate it once it has been recovered. This feature helps streamline checkout and check-in procedures while maintaining an accurate database. 

1.Enabling Company Settings

In order to enable thefeature,  go to Settings → Company Settings → Retire Checked Out Items.

Note: Retire Check Out Items feature is only applicable to Assets currently. 

Once you have enabled the setting, scroll up and click update. 

2. Retiring Individual Checked Out Assets

To retire a checked out asset, go to the Asset Details page and click on Retire. 

Next an overlay will appear asking you to state the reason for retirement. 

After you retire the Checked Out asset, you can view it under the Retired filter on the main Assets page. 

After selecting the Retired option, you will be prompted to choose the reason for retirement. 

3. Retiring Checked Out Assets in a Cart

Similar to individual asset retirement, you can also retire checked out assets in a Cart. Go to the Cart which contains the Asset you want to retire. Select the Asset you want to retire. 

Go to the Asset Details page and click Retire. After this, your Cart will be updated as below:

Note: Checked out date needs to precede the retirement date to retire assets in the checked out state. 

4. Reactivating an Asset

In case a lost asset is recovered you can  simply activate that asset.

Note: Reactivated Assets will be marked as Available and will not return to their prior Checked Out state.  

5. Creating Custom Reports for Retired Assets

You can also generate useful reports showing asset retirement and their subsequent reasons. Go to More→ Reports → Create a Custom Report.  Choose Asset from the module and select Retirement. 

Next choose the relevant columns for your report. The Retirement section shows ‘Last Active State’, ‘Action Taken’, Date of Activation/Retirement’ and ‘Custodian First/Last Name’. 

Once you run the report, this what the report looks like for retired assets

The column ‘Last Active State’ tells whether the asset was Available or Checked Out when it was retired. This can be used to differentiate between lost and obsolete assets. 

Read more: Generating Custom Reports in EZOfficeInventory

6. Set Up Alerts for Retired/Activated Assets

Turn on alerts for every time an asset is retired/activated. Go to More → Alerts → Alert Types

About EZOfficeInventory

EZOfficeInventory is the leading asset tracking software. It allows you to track, maintain, and report on equipment from anywhere, at any time. We offer a free 15-day trial – no credit card required!

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