by Verasset | Jan 24, 2014 | Asset Life Cycle, Capital Asset Management, Fixed Asset Management, Fixed Asset Register, Latest News, Physical Inventory
To recap, so far in this blog series we have: Defined the asset life cycle and some relevant terms Established minimum sets of data needed to manage and track capitalized assets Identified control points, touch points and opportunities to introduce errors into the...
by Verasset | Jan 22, 2014 | Asset Life Cycle, Asset Reconciliation, Capital Asset Management, Fixed Asset Depreciation, Fixed Asset Inventory, Fixed Asset Management, Fixed Asset Reconciliation, Fixed Asset Register, Latest News, Physical Inventory
In order to purchase new assets, a purchase order is created and submitted to a vendor. As the vendor delivers against the purchase order, packing lists and invoices are generated and remitted to the company making the purchase. The packing list is usually affixed to...
by Verasset | Jan 21, 2014 | Asset Life Cycle, Capital Asset Management, Fixed Asset Inventory, Fixed Asset Management, Fixed Asset Register, Latest News, Physical Inventory
At a minimum, the following data elements should be accurately recorded and maintained: A unique means to identify each asset, such as a manufacturer Serial Number or an affixed Asset Tag Number Costs- both Purchase and Installed Costs Depreciation– current and...
by Verasset | Jan 20, 2014 | Asset Life Cycle, Capital Asset Management, Fixed Asset Depreciation, Fixed Asset Inventory, Fixed Asset Management, Fixed Asset Reconciliation, Fixed Asset Register, Latest News, Physical Inventory
While information can take many forms and be used for many reasons, our focus will be placed on the bare minimum required to track, manage and report on capitalized fixed assets. It is equally important to identify several terms we will use. These include purchase...
by Verasset | Jan 17, 2014 | Asset Life Cycle, Capital Asset Management, Fixed Asset Depreciation, Fixed Asset Inventory, Fixed Asset Management, Fixed Asset Reconciliation, Latest News, Physical Inventory
Within this series, we will follow the flow of two practices: Purchasing and Shipping/Receiving, within the typical fixed asset life cycle. The procedural focus will be deliberately narrow. We are using these two stages within the life cycle as they represent control...
by Verasset | Jan 16, 2014 | Capital Asset Management, Fixed Asset Inventory, Fixed Asset Management, Fixed Asset Register, Latest News
As we begin to look at the fixed asset life cycle, it makes sense to define it. The asset life cycle represents the varying stages that an asset is processed through, from planning a purchase through retirement from service. Along the life cycle, business practices...
