by Verasset | Feb 27, 2014 | Asset Life Cycle, Asset Reconciliation, Asset Reconciliation Verification, Capital Asset Management, Fixed Asset Depreciation, Fixed Asset Management, Fixed Asset Reconciliation, Fixed Asset Register, Latest News
In the last entry, we touched upon register adjustments related to additions. Potential adjustments can also be associated with (but are not limited to): Removal of an asset that could not be verified during the physical count (referred to as a write down or write...
by Verasset | Feb 25, 2014 | Asset Appraisal, Asset Life Cycle, Asset Reconciliation, Asset Reconciliation Verification, Capital Asset Management, Fixed Asset Inventory, Fixed Asset Management, Fixed Asset Reconciliation, Fixed Asset Register, Latest News, Physical Inventory
In order to reconcile capitalized fixed assets, Verasset must first conduct a physical inventory count. Prior to beginning the physical verification task, we compile a list of asset types that will be included in the physical inventory. The results from the physical...
by Verasset | Feb 24, 2014 | Asset Life Cycle, Asset Reconciliation, Asset Reconciliation Verification, Capital Asset Management, Fixed Asset Depreciation, Fixed Asset Management, Fixed Asset Reconciliation, Fixed Asset Register, Latest News
Reconciling physical assets to ledger entries, also known as matching, can take on a variety of forms. In fact, the reason to reorganize and categorize asset registers as an initial first step is to aid later on when attempting to compare and match records to assets....
by Verasset | Feb 21, 2014 | Asset Reconciliation, Asset Reconciliation Verification, Capital Asset Management, Fixed Asset Depreciation, Fixed Asset Management, Fixed Asset Reconciliation, Fixed Asset Register, Latest News
As discussed earlier in this blog series, the first step in reconciliation consists of exact matching of physical assets to logical records using unique identifiers, such as the manufacturer serial number. Once all possible matches are made using this means,...
by Verasset | Feb 14, 2014 | Asset Reconciliation, Asset Reconciliation Verification, Capital Asset Management, Fixed Asset Management, Fixed Asset Reconciliation, Fixed Asset Register, Latest News, Risk Mitigation
Reconciliation can be very time consuming and labor intensive, thus expensive. In recognition of this, our next step in the review process is to sort register entries based upon their remaining value (and useful life expectancy). Doing so provides focus of effort...
by Verasset | Feb 13, 2014 | Asset Life Cycle, Asset Reconciliation, Asset Reconciliation Verification, Capital Asset Management, Fixed Asset Management, Fixed Asset Register, Latest News
To simplify the fixed asset reconciliation process and prepare the fixed asset register, we make a copy of the existing register and reorganize the information contained within it. Each entry in the register is evaluated on a line by line basis. The task begins by...