by Verasset | Mar 6, 2014 | Asset Life Cycle, Capital Asset Management, Fixed Asset Depreciation, Fixed Asset Inventory, Fixed Asset Register, Latest News
Controls are necessary in order to ensure that asset management is occurring and as expected. There are many ways to achieve control and they will vary throughout the asset life cycle. For example, controls that apply to acquisition will differ from those of...
by Verasset | Mar 5, 2014 | Asset Life Cycle, Asset Reconciliation Verification, Capital Asset Management, Fixed Asset Inventory, Fixed Asset Management, Fixed Asset Register, Latest News
Automating asset management activities represents an important control. Typically this relates to the capture and reporting of information. However a better approach is to apply automation at the workflow level and as a means to automatically force compliance with...
by Verasset | Feb 28, 2014 | Asset Life Cycle, Asset Reconciliation, Asset Reconciliation Verification, Capital Asset Management, Fixed Asset Inventory, Fixed Asset Management, Fixed Asset Reconciliation, Fixed Asset Register, Latest News
Generally speaking, a fixed asset register is intended to be used for depreciation reporting – not for tracking physical assets. Consequently, the vast majority of registers either don’t accommodate the detail needed to track assets or the personnel who maintain a...
by Verasset | Feb 25, 2014 | Asset Appraisal, Asset Life Cycle, Asset Reconciliation, Asset Reconciliation Verification, Capital Asset Management, Fixed Asset Inventory, Fixed Asset Management, Fixed Asset Reconciliation, Fixed Asset Register, Latest News, Physical Inventory
In order to reconcile capitalized fixed assets, Verasset must first conduct a physical inventory count. Prior to beginning the physical verification task, we compile a list of asset types that will be included in the physical inventory. The results from the physical...
by Verasset | Feb 11, 2014 | Asset Life Cycle, Capital Asset Management, Fixed Asset Inventory, Fixed Asset Management, Latest News, Physical Inventory
The primary deliverable of a physical inventory engagement typically consist of an electronic inventory database, a project summary report, and often asset tags are affixed to all equipment. The report summarizes the project procedures and findings. The database...
by Verasset | Feb 10, 2014 | Asset Life Cycle, Capital Asset Management, Fixed Asset Inventory, Fixed Asset Management, Latest News, Physical Inventory, RFID, RFID Labels
Communication and coordination is a high priority in conducting a physical inventory, as it is with any project involving multiple individuals. Inventory teams navigate and coordinate progress through client facilities using maps. Teams communicate with one another...