by Verasset | Feb 12, 2014 | Asset Life Cycle, Asset Reconciliation, Asset Reconciliation Verification, Capital Asset Management, Fixed Asset Depreciation, Fixed Asset Management, Fixed Asset Reconciliation, Fixed Asset Register
A typical Verasset service engagement entails conducting a physical inventory of fixed assets, asset tagging, capturing information, and reconciling the installed fixed assets to financial records such as a fixed asset register. We begin by thoroughly planning the...
by Verasset | Feb 11, 2014 | Asset Life Cycle, Capital Asset Management, Fixed Asset Inventory, Fixed Asset Management, Latest News, Physical Inventory
The primary deliverable of a physical inventory engagement typically consist of an electronic inventory database, a project summary report, and often asset tags are affixed to all equipment. The report summarizes the project procedures and findings. The database...
by Verasset | Feb 10, 2014 | Asset Life Cycle, Capital Asset Management, Fixed Asset Inventory, Fixed Asset Management, Latest News, Physical Inventory, RFID, RFID Labels
Communication and coordination is a high priority in conducting a physical inventory, as it is with any project involving multiple individuals. Inventory teams navigate and coordinate progress through client facilities using maps. Teams communicate with one another...
by Verasset | Feb 7, 2014 | Asset Life Cycle, Capital Asset Management, Fixed Asset Inventory, Fixed Asset Management, Fixed Asset Register, Latest News, Physical Inventory
When allocating inventory personnel into teams, Verasset places emphasis on the customer environment, the asset types involved, and the background of the inventory specialists. Often, inventory team members are focused on specific asset types and departments. This...
by Verasset | Feb 6, 2014 | Asset Life Cycle, Capital Asset Management, Fixed Asset Inventory, Fixed Asset Management, Latest News, Physical Inventory
As described in previous blog entries, the single most important aspect of a physical inventory is accuracy. In this blog series, we have discussed our approach to physical inventory planning. In the coming entries, we will review the process in greater detail....
by Verasset | Feb 5, 2014 | Asset Life Cycle, Capital Asset Management, Fixed Asset Inventory, Fixed Asset Management, Latest News, Physical Inventory
Verasset performs what are commonly referred to as “open inventories”. This means that business operations remain constant while the physical inventory is performed. While this is often necessary, it can be problematic. As regular business activities are occurring,...
