Verasset Physical Inventory and Reconciliation Projects

Verasset inventory service teams have had a busy summer completing physical inventory and reconciliation projects for a diverse customer base. Recent Projects include: July 2013- Completion of a nationwide physical inventory of nearly 40,000 IT assets for the federal government across 25 geographic locations July 2013- Physical inventory and FAR reconciliation of capital assets for […]

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Senior Consultant to Verasset Publishes Book on Optimizing the Asset Lifecycle

A senior consultant to Verasset Corporation, has published a book titled Optimizing the Asset Lifecycle. Brad Vinecombe has worked in the asset management and tracking industry for over 20 years, having founded, run, and sold several businesses and products related to the content within his new book. Vinecombe acts as a senior consultant to Verasset […]

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Upcoming Inventory Service Projects

Verasset has been awarded multiple projects that will keep our inventory service teams and consultants busy over the next 6 months. A few highlights include: Installation of over 100 fixed RFID readers throughout multiple facilities Inventory of fixed assets and product for a California State agency spanning from San Diego to San Francisco Coast-to-coast physical […]

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For a Limited Time Get a Free Barcode System With Purchase of Services

Verasset Corporation is offering a free asset tracking barcode system to customers that purchase their professional inventory services. The limited time promotion is in response to the increase in demand from smaller to mid-sized organizations for affordable barcode solutions. As these organizations grow, they acquire more equipment, and don’t have the means to track and […]

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Reconciling Fixed Asset Financial Records

Reconciling fixed asset financial records can be a daunting task. Multiple record sources are involved including; payables, purchase orders, registers, and the general ledger. A significant hurdle is that more than one person is usually involved. Consequently, record keeping habits vary and the opportunity to introduce errors through redundant data entry is high. Some of […]

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Why You Need to Maintain Accurate Fixed Asset Records

Capitalized fixed assets are assets that meet or exceed a defined value threshold and are depreciated in value over their useful life. Asset depreciation is usually recorded each month. One common depreciation method is to calculate annual depreciation expense and then divide this figure by 12 to determine the monthly expense. Accountants will post a […]

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Core Internal Fixed Asset Controls

Establishing proper internal fixed asset controls is pertinent to successfully managing assets. Fixed assets that meet or exceed a stated value threshold should be capitalized and recorded in a fixed asset register. At a minimum, the register should include; cost, useful life, current and accumulated depreciation, and net book value. Assets that fall below the […]

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Data Reconciliation and SOX Compliance

Verasset has just completed a physical inventory and reconciliation project for a 125 year old manufacturing company. The company is publicly held and is required to conduct a physical inventory every 3 years in order to be compliant with the Sarbanes-Oxley Act (SOX). SOX compliance also requires that the companies finance officers and auditors sign […]

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