by Verasset | Feb 14, 2014 | Asset Reconciliation, Asset Reconciliation Verification, Capital Asset Management, Fixed Asset Management, Fixed Asset Reconciliation, Fixed Asset Register, Latest News, Risk Mitigation
Reconciliation can be very time consuming and labor intensive, thus expensive. In recognition of this, our next step in the review process is to sort register entries based upon their remaining value (and useful life expectancy). Doing so provides focus of effort...
by Verasset | Feb 13, 2014 | Asset Life Cycle, Asset Reconciliation, Asset Reconciliation Verification, Capital Asset Management, Fixed Asset Management, Fixed Asset Register, Latest News
To simplify the fixed asset reconciliation process and prepare the fixed asset register, we make a copy of the existing register and reorganize the information contained within it. Each entry in the register is evaluated on a line by line basis. The task begins by...
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...
by Verasset | Feb 7, 2014 | Asset Life Cycle, Capital Asset Management, Fixed Asset Inventory, Fixed Asset Management, Fixed Asset Register, Latest News, Physical Inventory
When allocating inventory personnel into teams, Verasset places emphasis on the customer environment, the asset types involved, and the background of the inventory specialists. Often, inventory team members are focused on specific asset types and departments. This...
by Verasset | Feb 6, 2014 | Asset Life Cycle, Capital Asset Management, Fixed Asset Inventory, Fixed Asset Management, Latest News, Physical Inventory
As described in previous blog entries, the single most important aspect of a physical inventory is accuracy. In this blog series, we have discussed our approach to physical inventory planning. In the coming entries, we will review the process in greater detail....