by Verasset | Jan 31, 2014 | Asset Life Cycle, Capital Asset Management, Fixed Asset Inventory, Fixed Asset Management, Fixed Asset Reconciliation, Latest News, Physical Inventory
There is a fine line between what information is helpful to capture, versus what is practical. To better understand this, there are two competing factors in conducting a successful physical inventory. These are ACCURACY and TIMING. Accuracy is the single most...
by Verasset | Jan 30, 2014 | Asset Life Cycle, Barcode Labels, Capital Asset Management, Fixed Asset Inventory, Latest News, Physical Inventory, RFID, RFID Labels
While it may seem straightforward to establish what types of assets need to be counted during physical inventory, most often, it is not. More often than not, the capitalization limit loses focus when individual assets that fall below the capital limit are bundled...
by Verasset | Jan 29, 2014 | Asset Life Cycle, Capital Asset Management, Fixed Asset Inventory, Fixed Asset Management, Physical Inventory
Throughout this blog series, we will discuss in detail, how we go about planning for and conducting a typical physical inventory. The first step in a physical inventory project lies in the planning. Planning first and foremost helps to properly set expectations...
by Verasset | Jan 28, 2014 | Asset Life Cycle, Asset Reconciliation, Capital Asset Management, Fixed Asset Inventory, Fixed Asset Management, Fixed Asset Reconciliation, Fixed Asset Register, Latest News, Physical Inventory
The ideal scenario is to maintain a single shared database (asset database) whereby assets are tracked and managed. This data source would also serve to align (or link) information related to each asset with other information sources, such as purchasing, shipping and...
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 23, 2014 | Asset Life Cycle, Barcode Labels, Capital Asset Management, Fixed Asset Inventory, Fixed Asset Management, RFID Labels
Simply put, timing is everything. Clearly, as it relates to availability of information, decision-making can be impacted by availability of information needed to make a decision. In our last blog entry, we left off by discussing the timing of accounts payable being...
