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...
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...
