Perpetual inventory
When purchasing gambling equipment, keep an ongoing tracking system of the equipment. This system is called a perpetual inventory. The perpetual inventory is continually updated during the month.
What is a perpetual inventory system?
A perpetual inventory is an ongoing document in which all gambling product is logged when it is:
- received;
- put into play at each site;
- removed from play (closed);
- transferred to another site to be played (only unplayed games may be transferred); or
- returned to the distributor.
Perpetual inventory records required
Perpetual inventory records of all gambling equipment—paper pull-tabs, tipboards, paddletickets, bingo paper, and raffle tickets—is required. A properly maintained perpetual inventory system allows an organization to know what is in inventory at any time.
EXAMPLE: An organization has just started its gambling operation. Five paper pull-tab games were ordered and received from a distributor on June 5, 2020. As of June 30, 2020:
- one of these games was reported on the Schedule B2 as closed in November;
- two games were in play; and
- two games were not yet put into play.
The perpetual inventory would show four games in inventory and one game that was closed in November.
Perpetual inventory information
Information in the perpetual inventory records must include but is not limited to the following:
- date of the invoice
- distributor name
- invoice number
- manufacturer ID
- part number
- game name or form number
- serial number
- actual game cost
- date each game was put into play or transferred
- date each game was closed or returned to distributor
Required forms to use
Paper pull-tabs, tipboards, and paddletickets—use LG844.
Bingo—use LG900, LG901, LG902, and/or LG920 (see Bingo section).
Raffles—use LG820 (See Raffles section for inventory information).
