Asset Inventory 2026 - Complete Guide

Everything About Asset Inventory in 2026

Asset inventory is a legal obligation for every accounting entity. Every year, companies, schools, municipalities and non-profit organizations must perform physical checks of their assets and compare them with accounting records. In this complete guide, we'll show you how to conduct inventory efficiently, in compliance with regulations and with minimal time investment.

90%

Time savings with QR codes

6 months

Inventory period

5 years

Record retention period

100%

Of entities must inventory

Legal Requirements for Inventory

Inventory is regulated by accounting laws and regulations. Compliance with these rules is mandatory for all accounting entities.

Legal obligations under the Accounting Act:

§Inventory must be conducted at least once a year on the date of financial statements
§Deadline: earliest 4 months before balance sheet date, latest 2 months after
§Results must be documented in inventory reports and protocols
§Inventory differences must be accounted for in the period for which inventory is conducted

Inventory Deadlines for 2026

For the accounting period ending December 31, 2026, the following schedule applies:

1.9.

Earliest start

31.12.

Balance sheet date

28.2.

Latest end

You can start inventory as early as September 1, 2026 and must complete it by February 28, 2027.

Who Must Conduct Inventory

The inventory obligation applies to all accounting entities regardless of size:

Commercial Companies

LLCs, corporations, partnerships and other legal entities operating for profit.

Public Sector

Schools, hospitals, municipalities, regions, funded organizations and government institutions.

Non-Profit Organizations

Associations, foundations, institutes and other non-profit legal entities.

Preparing for Inventory

Thorough preparation is key to successful and quick inventory. We recommend starting at least one month before the planned date.

1.Update asset records

Remove disposed assets, add newly acquired ones. Check that asset locations in records match reality.

2.Appoint inventory committee

The committee should have at least 2 members. For larger assets, consider appointing sub-committees for individual locations or asset types.

3.Prepare inventory materials

Print inventory lists or verify that all assets have QR labels applied. Prepare mobile devices for scanning.

4.Inform employees

Announce the inventory date, explain the process and ensure cooperation from responsible persons for each department.

5.Ensure access

Obtain keys to all premises, warehouses and rooms. Arrange access outside working hours if needed.

Step-by-Step Inventory Process

The actual inventory consists of four main phases:

1. Physical Count

Systematically go through all rooms and check the presence of each asset. With QR codes, just scan the label with your phone and confirm the status.

2. Comparison with Records

Compare the actual state found with accounting records. Software automatically flags differences - surpluses, shortages and discrepancies.

3. Resolving Differences

Investigate the causes of all discrepancies. It could be loss, theft, relocation without recording, or administrative error.

4. Documentation

Create an inventory report with signatures of all committee members. Document identified differences and propose their resolution.

Inventory with QR Codes - The Modern Approach

Modern inventory uses QR codes applied to each asset. Instead of paper lists, you use a mobile phone - scan the label and confirm the asset's presence. The system automatically records the inventory, marks inventoried assets and shows a summary of differences at the end.

Speed

Scanning a QR code takes 2 seconds instead of a minute searching through paper lists. Time savings of 70-90%.

Accuracy

No errors from transcription, number mix-ups or illegible handwriting. Every scan is unambiguous.

Clarity

See in real-time what has been inventoried and what remains. Differences are displayed immediately.

Documentation

Automatic generation of inventory reports and statements. No manual transcription of results.

Learn more about mobile inventory in our article: Mobile Inventory - The Future of Asset Management

Tips for Efficient Inventory

Based on our clients' experience, we've compiled proven tips to help you handle inventory smoothly:

Conduct ongoing inventory

Don't wait until year-end. Inventory assets continuously by department or building - the annual inventory will then be just a formality.

Divide the work

Assign specific zones or asset types to individual committee members. They can work in parallel and inventory will be completed faster.

Start with problem areas

Inventory warehouses, common areas and high-traffic locations first, while you have energy to resolve discrepancies.

Photograph discrepancies

When you encounter damaged assets or inconsistencies, photograph the situation. It will facilitate later investigation and documentation.

Use software

Specialized software saves work on preparing materials, reports and statements. Automatic reports meet legal requirements.

Common Inventory Mistakes

These mistakes are common in organizations conducting inventory for the first time or using outdated methods:

✗Insufficient preparation - missing current records, lists or access to premises
✗Missing deadlines - inventory outside the legal period is invalid
✗Missing documentation - without inventory reports, you cannot prove inventory was conducted
✗Formal approach - just checking off a list without actual physical verification of assets
✗Not accounting for differences - identified shortages and surpluses must be recorded in the inventory period

Inventory 2026 Checklist

Check that you have everything prepared:

☐Updated asset records
☐Appointed inventory committee
☐Prepared inventory lists or QR labels
☐Employees informed about the date
☐Access to all premises secured
☐Working mobile devices for scanning
☐Prepared forms for inventory report
☐Time scheduled to investigate any differences

Frequently Asked Questions About Inventory

Who must conduct inventory?

All accounting entities must conduct inventory - companies regardless of size, schools, non-profit organizations, funded organizations, municipalities and government institutions. The obligation stems from accounting laws.

What are the penalties for not conducting inventory?

Not conducting inventory violates the Accounting Act. There can be fines from tax authorities and during audits, the accuracy of the entire accounting may be questioned, which can lead to additional tax assessments.

How long to keep inventory records?

Inventory reports and other inventory documents must be kept for at least 5 years after conducting the inventory, or longer according to internal policies or founder requirements.

Can one person conduct the inventory?

The law does not directly specify a minimum number of inventory committee members, but at least 2 persons are recommended to ensure objectivity and mutual control. More members is standard for higher-value assets.

Must small assets be inventoried too?

Yes, inventory applies to all assets recorded in accounting, including small fixed assets. The method and detail of inventory is determined by the accounting entity in its internal policies.

Conclusion

Inventory doesn't have to be a nightmare. With good preparation, a clear plan and modern tools, you'll handle it quickly and efficiently. QR codes and specialized software can save you up to 90% of time compared to paper inventory. Start preparing early and inventory 2026 will be a breeze.

Get Ready for Inventory 2026

With Asset Manager app, you'll handle inventory faster and stress-free. QR codes, mobile scanning and automatic reports will save you hours of work.

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