Considerations for Conducting Effective Fixed Asset Reconciliation

Over the last decade, we have found that at a minimum 50% of fixed asset information is either inaccurate or incomplete. Therefore, the only reliable way to verify and validate fixed asset information is to conduct a physical inventory. All fixed asset inventory data should be centralized and reconciled against the existing data in the […]

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Counting fixed assets and capital equipment without halting business operations complicates an already difficult activity

Conducting physical inventory is a difficult task. Counting fixed assets and capital equipment without halting business operations complicates an already difficult activity. Reconciling physical items to logical records can seem like an impossible effort. These scenarios represent the majority of the engagements that Verasset completes. To better understand why physical inventory is a difficult task […]

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Common Problems Reconciling Fixed Assets

Most organizations face significant challenges related to tracking the location, quantity, condition, maintenance and the depreciation status of their fixed assets. Typically fixed assets are recorded and maintained in either a spreadsheet or a fixed asset register (FAR). These records are then periodically verified through audit activities, such as physical inventory. In order to verify […]

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Reconciling the Fixed Asset Register

Tracking and managing assets is an important and usually daunting task for an organization, regardless of size. Fixed assets can be defined as property that a firm owns and uses in the production of its income. Examples of fixed assets include, but are not limited to, computers, tools, software, and office equipment. A company may […]

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Asset Inventory and Reconciliation Services for Sarbanes-Oxley Compliance

When Congress passed the Sarbanes-Oxley Act, it sought to improve corporate governance of public corporations and reduce fraudulent reporting. The Act places new reporting burdens on corporations and imposes penalties for non-compliance. Chief Executives of public companies must personally certify the integrity of financial reports, as well as the procedures and systems used to create […]

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Addressing Complex Business Issues With Asset Inventory Services

Verasset provides a specialized value offering that extends beyond simply counting items. We specialize in tracking and managing fixed assets, with a focus on enabling clients to become self-reliant without having to rely on the assistance of external professionals. Over the last decade, Verasset has learned that in order to bring lasting value to its […]

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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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What are Fixed Assets

Fixed assets are items of personal (moveable) property with an estimated useful life of more than one year. Examples of fixed assets include furniture, fixtures, equipment, computers, vehicles, and similar items of personal property. A fixed asset does not lose its identity through incorporation into a different or more complex device. In contrast to “inventory” […]

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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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