Fixed Asset Services and Solutions
Verasset provides custom tailored fixed asset and inventory tracking and management services and full asset lifecycle managements solutions for schools, colleges, and universities.
Services encompass fixed asset inventory, asset tagging, and reconciliation in support of GASB compliance, audit requirements, and general best practices for management of assets and equipment.
We provide asset tracking systems that track and manage assets and equipment, track funding sources, automate the check-in/check-out process for laptops and tablets, and more
Asset Inventory, Asset Tagging, and Reconciliation Services
Verasset professional inventory service teams perform wall-to-wall fixed asset inventory of school assets and equipment. During physical inventory, Verasset asset tag school assets with barcode labels or RFID tags and reconcile existing fixed asset records.
Verasset electronically records fixed asset data, such as serial numbers, make/model, description, location, etc. and takes digital images of school equipment.
Our services teams can quickly and accurately get an up-to-date listing of school fixed assets and apply asset tags that will help in tracking assets and equipment ongoing.
Services can be done after schools hours, on weekends, during vacation, or carefully planned during school hours.
Inventory Management and Fixed Asset Tracking Software Systems
Once the baseline equipment inventory is established, asset tracking software should be used to manage and report on school equipment and assets.
Asset tracking systems can be cloud-based subscription services or self-hosted and used via desktop UI or Wi-Fi enabled mobile device such as a tablet, mobile computer, or smartphone.
Inventory management software is used to track stock rooms and consumables, such as paper, pencils, and other pertinent supplies that requirement regular replenishment.
These systems enable monitoring of stock levels, and can automate reporting, notifications, ordering, and more.
Mobile Computing, Barcode Printing, and Barcode Scanning
Turnkey asset and inventory management systems include implementing the right hardware to compliment the asset tracking application.
Ruggedized mobile computers allow you to access, audit, and update your asset tracking and inventory management systems from anywhere.
Barcode scanners are inexpensive and can serve various functions. Scanning bar coded asset tags on your equipment equipment and inventory facilitates fast and accurate data input.
Barcode printers allow for on-demand printing to keep up with fixed asset tagging and inventory tagging processes.
We put the right tools together to design a complete turnkey system that will simplify and automate the tracking and managing of inventory and assets.
Benefits of Proper Fixed Asset Management in Schools and Education
GASB, Compliance, and Audit
Physical inventory and reconciliation enable proper financial reporting and compliance with regulatory requirements, such as GASB Statements 34 and 35 and annual audits.
Fixed assets represent a substantial portion of the balance sheet and should be managed accordingly.
Track Funding Sources
Schools need to track and differentiate fixed assets based on various funding sources as well as track their location and disposition. Verasset’s comprehensive physical inventory will identify assets location, funding source, and disposition. This information is then fed to the asset tracking system and managed for the life of the asset.
Reduce Theft and Loss of Equipment
Having the proper asset management processes in place provide complete asset visibility. Once assets are accounted and asset tagged, teachers and administration are better equipped to monitor and make informed decisions. Having a proper chain of custody for assets that are susceptible for theft and misplacement will drastically reduce the likelihood of loss.
Verasset performed a physical inventory of our fixed assets. Their team completed an in-depth scoping exercise which was used to determine the scope of work and enabled them to provide the various RFID tags that they applied to our assets during the inventory. Upon completion of the inventory and tagging effort, Verasset appraised our assets and provided us with a formal report of their findings. The Verasset team, which I found to be professional and detail oriented, completed the physical inventory on time and within budget.
We are available via telephone 8:30am-5:00pm (EST) Monday-Friday
100 Webster Street, Manchester NH 03104
+1 (877) 219 5532