by Verasset | Feb 4, 2014 | Asset Life Cycle, Capital Asset Management, Fixed Asset Inventory, Fixed Asset Management, Fixed Asset Register, Latest News, Physical Inventory
An important aspect of planning a physical inventory is establishing standards and conventions. These are used to align terms, methods, and actions. For example, it is common to align similar assets into categories, which are established as a convention. Another...
by Verasset | Feb 3, 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
When planning the data capture attributes of a physical inventory, there are various levels of optimization and automation that can streamline the process. First and foremost, pre-populating mobile inventory data collection devices with existing data sources (such as...
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 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...