Maintain GASB 34 Compliance, Manage Outsourced IT Support Contracts

Verasset performs professional fixed asset inventory services for State, Local, and Federal government entities. Large scale, nationwide projects include asset inventory and tagging services for federal branches, including: 

  • The U.S. Securities and Exchange Commission (SEC)
  • The Department of Health and Human Services (HHS)
  • Centers for Medicare and Medicaid Services (CMMS)
  • U.S. Army Corp. of Engineers (ACE)


Mid size to smaller scale projects range from: 

  • City Government
  • Townships
  • Police and Fire Departments
  • Privately Managed, State Funded Programs


The services are generally in support of GASB compliance and various IT initiatives, such as outsourced IT support contract renewals. Verasset has inventory personnel that hold government clearance for access to secured facilities.

Verasset’s fixed asset physical inventory services include: 

  • A Baseline Wall to Wall Physical Inventory Count for initial database population. Verasset can use this information to perform Asset Appraisals as well.
  • Physical Inventory and Comprehensive Reconciliation of the inventory count data with existing data sources, such as financial ledgers (SAP, Oracle, PeopleSoft, etc.) and operational databases for GASB compliance
  • Assets Tagging with barcode, passive RFID, or combination smart labels
  • Customized Electronic Data Collection, specifically tailored to each client  as well as asset type
  • Customer defined electronic file format and reporting of inventory results
  • Trained professionals with experience in diverse environments
  • Guaranteed Accuracy

fixed asset physical inventory planning

Verasset assigns a Project Manager and at least one Inventory Controller to every engagement. Together, they assess your objectives, existing business controls, and asset information standards and conventions.

Using this information, a concise Project Plan is created and used to govern specific asset counting methods, information, conventions, schedules, and project stages.

Once Verasset has gained your acceptance of the project plan, the Inventory Controller(s) assembles the core inventory team, which is made up of experienced Inventory Specialists. The Inventory Controller uses the plan to prepare the inventory teams for the project.

Verasset Fixed Asset Inventory Technology

Verasset’s asset data collection tools embrace state-of-the-art information collection technologies such as handheld mobile computers, bar coding, radio frequency identification (RFID), wireless communications, digital imaging (pictures), voice recognition, GPS, and auto-discovery.

Combined with the asset management plan, these tools help Verasset Specialists conduct a highly efficient inventory count, quickly and accurately.

Verasset’s data collection applications are adaptable to your requirements through the use of definable operating parameters. These operating parameters enable Verasset’s Inventory Specialists to quickly adjust applications to match your information requirements.

Examples include: size of asset labels, information to be placed on labels, definition of custom data fields, inclusion of digital pictures, use of pre-existing lists (departments, employee lists, asset models, etc.), and the definition and auto-assignment of your specific asset numbers.

Verasset services extend beyond physical asset inventory and asset tagging. Additional services consist of: 

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