What is the difference between a stocktake and an audit?

A stocktake is a physical count that compares what is on the ground against what the register says should be there. An asset audit is a broader review that may include verifying condition, checking documentation, assessing compliance and evaluating management processes. A stocktake is primarily about counting and location verification, while an audit assesses the overall quality of asset management.

How do I handle assets found that are not on the register?

Record the unregistered asset with a description, location and condition on the stocktake sheet. After the count, investigate the source of the asset. It may have been purchased without being registered, borrowed from another site, or left behind by a contractor. Once identified, add it to the register with the correct details, or arrange for its removal if it does not belong.

Should I count every asset or can I sample?

For a full stocktake, every asset should be counted. Sampling (counting a statistically representative subset) is acceptable for very large asset populations where a full count is impractical, but it must be a genuine random sample to be meaningful. Spot checks between full stocktakes can use sampling. For financial year-end and insurance purposes, a full count is usually required.

Is this asset stocktake sheet template free?

Yes. This asset stocktake sheet template is completely free to download and use. Open the HTML file in any browser and print to PDF. No MapTrack account is required. If you want digital stocktaking with barcode or QR code scanning and automatic register reconciliation, MapTrack can help.

How long should completed stocktake sheets be retained?

Retain completed stocktake sheets for a minimum of five years from the end of the financial year in which they were completed. Section 262A of the Income Tax Assessment Act 1936 requires records supporting tax positions (including depreciation and capital allowances) to be kept for five years, and AASB 116 (Property, Plant and Equipment) expects external auditors to be able to trace the physical existence of capitalised assets back through historical stocktake evidence. For ISO 55001 certified organisations, retain stocktake records for at least three audit cycles so continual improvement in count accuracy can be demonstrated to the certification auditor.

Free asset stocktake sheet

Jump to download form ↓

Enter your email below to download this asset stocktake sheet as a ready-to-use PDF.

Download a free asset stocktake sheet. Count and verify assets by location with expected vs actual quantities. PDF ready to print.

Jarrod Milford

Commercial Director

Updated 3 May 2026

Also see:Asset tracking →Best asset tracking software →MapTrack vs Asset Panda →

Updated 3 May 2026

How to use: download the PDF, print or complete digitally on any device.

PDF format, ready to print or fill on screen
Use as-is or customise to suit your operation
Go digital in MapTrack for photos, alerts and audit trails

Download free PDF template

FreePDFUpdated May 2026

Trusted by teams across Australia and New Zealand

We respect your privacy. Unsubscribe anytime.

Used by construction, mining and field service teams

What is a asset stocktake sheet?

An asset stocktake sheet is a form used during physical asset counts to record the assets found at each location and compare them against the asset register. The sheet lists assets by location, providing columns for asset ID, description, expected quantity, actual quantity found, condition and any discrepancy notes. Stocktakes are conducted to verify that the asset register accurately reflects the physical assets on the ground.

Asset registers inevitably drift from reality over time. Assets are moved, disposed of, borrowed, damaged or lost without the register being updated. A stocktake reconciles the register against physical reality. The process identifies missing assets (which may have been stolen, lost or disposed of without documentation), unregistered assets (which should be added to the register) and location mismatches (assets that have been moved without updating the register). Regular stocktakes support accurate financial reporting, insurance valuations, depreciation calculations and operational asset management. ISO 55001 expects organisations to maintain accurate asset information, and physical verification through stocktakes is a core mechanism for achieving this.

Learn more about asset tracking in MapTrack.

Benefits of using this asset stocktake sheet

Register accuracy: reconcile the asset register against physical reality to ensure records are current and correct.
Loss detection: identify missing, stolen or unaccounted-for assets before losses compound.
Financial accuracy: accurate asset counts support depreciation schedules, balance sheet valuations and insurance cover.
Operational visibility: know exactly what assets are at each location for planning, allocation and utilisation decisions.
Ghost asset elimination: remove assets from the register that no longer physically exist (disposed, written off, scrapped).
Compliance: many industry standards and government contracts require periodic physical asset verification.

Benefits of digitising forms in MapTrack

When you move your forms from paper to MapTrack, you get:

Field users can easily scan a QR code to complete a form on mobile. Unlimited users.
Automatically get alerts when faults are identified.
Link every form digitally as a PDF to the relevant asset, location or person.
Receive a digital PDF copy with every submission to your email.
Ability to share forms digitally.
Build conditional logic (show or hide questions based on answers).
Take pictures or attach photos. Not possible with a paper-based form.
Electronic signatures.
Edit forms later without reprinting.
Restrict permissions (who can view, complete or approve).
Build forms with AI (describe what you need and MapTrack suggests the form).
Maintain a live asset register with location, condition and custody history.
Schedule and track calibration, certification and warranty expiry dates.
Generate depreciation and total-cost-of-ownership reports per asset.

Book a demo to see how MapTrack handles forms.

Try MapTrack free for 30 days

Full access to every feature. No credit card required. Per-asset pricing so you scale as your fleet grows.

Start free trial

No credit card required
30 days free trial
Cancel anytime

1-2 days/week saved

“Bloody amazing! We used to spend 1-2 days a week tracking and managing our generators alone.”

Steve McAllister

Asset Coordinator, Saunders International

What to include in a asset stocktake sheet

This asset stocktake sheet covers 9 key areas:

Stocktake header: date, location or area, stocktake type (full, partial, spot check), counter name, department.
Asset rows (30+ rows): asset ID or tag, description or make/model, expected location, actual location found.
Quantity columns: expected quantity (from register), actual quantity counted.
Condition: brief condition note (Good, Fair, Poor, Damaged, Not Found).
Discrepancy column: note any differences between expected and actual (missing, extra, wrong location, wrong condition).
Unregistered assets: section for recording assets found that are not on the register.
Summary: total assets expected, total found, total missing, total discrepancies.
Actions: list of discrepancies requiring investigation, with assigned person and due date.
Signatures: counter, reviewer and asset manager.

How to use this asset stocktake sheet

Prepare by printing the asset register extract for the location being counted.: Export the expected asset list for the location from the asset register. Pre-fill the stocktake sheet with asset IDs, descriptions and expected quantities. Brief the counting team on the process, locations to cover and how to handle discrepancies.
Physically walk the location and count every asset.: Go to each asset in the location. Verify the asset ID or tag against the sheet. Record the actual quantity found and a brief condition note. If an asset is found in an unexpected location, record the actual location. Do not skip items or count from a distance.
Record any unregistered assets found during the count.: If you find assets that are not listed on the sheet (not on the register), record them in the unregistered assets section with a description, location and condition. These will need to be investigated and potentially added to the register.
Complete the summary and identify discrepancies.: Total the assets expected, found, missing and with discrepancies. Review each discrepancy and note whether it is a missing asset, a location mismatch, a condition issue or an unregistered asset. Assign investigation actions for significant discrepancies.
Submit the completed sheet to the asset manager for reconciliation.: The asset manager reviews the stocktake results, investigates discrepancies, updates the register to match physical reality and files the completed stocktake sheet. Retain stocktake records for at least five years for audit purposes.

In MapTrack, you can manage your full asset register digitally. Each submission is stored as a timestamped PDF against the asset record.

Get the free templateEnter your email above to download the full asset stocktake sheet as a PDF.Back to download form

How often should you complete this form?

Full asset stocktakes should be conducted at least annually. Spot checks or partial stocktakes of high-value or high-risk asset categories should be conducted quarterly. Some organisations conduct rolling stocktakes, counting a portion of assets each month so that the entire register is verified over the course of a year.

Frequently asked questions

Need to manage your full asset register digitally?

Register every asset in MapTrack, attach digital forms, and get a complete history of every inspection, service and compliance record.

Start free trial Book a demo

Asset tracking · All templates · Pricing · Book a demo