Maximizing Your Investment in Performing a Fixed Asset Physical Inventory

One important means towards maximizing your investment in performing a fixed asset physical inventory is to include expensed items, in addition to capitalized fixed assets, in the counting process. We recommend that the focus is applied toward expensed items with greater operational significance as well as those at a higher risk for theft or misplacement. […]

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Tagging Fixed Assets Using RFID (Radio Frequency Identification)

The objective in tagging items using RFID is two-fold; first, once affixed, using RFID going forward makes future physical inventory counts much faster and easier to complete. When scanning an RFID tag, line of sight is not necessary and multiple tags can be read simultaneously. This significantly speeds up the physical inventory process and requires […]

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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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Top 5 Mistakes in Performing Physical Inventory

1.       Not Utilizing Technology Performing a physical inventory manually is prone to error and inefficient. Using advanced data capture (ADC) technologies such as bar coding and RFID reduce errors and significantly speed up the process. Mobile data capture tools are becoming less and less expensive. These tools allow you to scan bar codes and RFID […]

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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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Verasset Installs and Supports 50 RFID Portals

Verasset is proud to announce that it has been awarded an engagement to implement an RFID sensor network. Adam Vinecombe, Director of Services at Verasset, stated “RFID adopters should seek companies with a solid track record of performance. When it comes to implementing practical, scaleable RFID solutions that can deliver a sustainable return on investment, […]

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