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 | Oct 23, 2013 | Asset Life Cycle, Asset Reconciliation, Asset Reconciliation Verification, Fixed Asset Depreciation, Fixed Asset Inventory, Fixed Asset Management, Fixed Asset Reconciliation, Fixed Asset Register, Latest News, Physical Inventory, Sarbanes-Oxley Act
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,...
