Reliable Equipment Inventory Solutions for Peace of Mind

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Industry Leaders for Over 30 Years

 Asset Services is a leading provider of equipment & fixed asset inventory solutions for schools, colleges, and universities nationwide. Services include wall-to-wall physical inventories of fixed assets, physical audits of existing assets, and assigning replacement costs for each item inventoried.

Asset Services performs on-site physical inventories of fixed assets and major movable equipment for educational organizations such as universities, colleges, public school districts, private schools, and charter schools. Our trained inventory specialists will search behind every door and in every closet to identify equipment and capture descriptive data pertaining to each asset.

educational computers and desks that Asset Services is specialized in inventorying all assets for schools and education organizations.

The Importance of Inventory Management

  • Accurate Insurance Coverage & Audits
  • Financial Reporting and Planning
  • Disaster Preparedness & Recovery
  • Locating Missing Assets & Identifying Surplus
  • Seamless + Non-Intrusive Model

With increasing expenses and decreasing budgets, it’s more important than ever for educational entities to have an accurate account of their assets. Compelling Reasons For A Wall-to-Wall Inventory.

Financial Reporting & Compliance

Fixed Asset Records should be maintained in order to:

  • Comply with Generally Accepted Accounting Principles
  • Comply with funded grant provisions, such as EDGAR guidelines for tracking federally funded assets.
  • Meet the requirements of GASB Financial reporting.
  • Public education institutions are also accountable to the State Auditor and—most importantly—local taxpayers.
Fixed Asset Records being maintained to comply with funded grant provisions
Asset Services understands the importance of financial accuracy of financial reporting and compliance

Accuracy

Educational organizations are required to provide accurate financial reports on an annual basis. An accurate fixed asset ledger is an integral part of that financial report, as it identifies current assets and their worth.

Considering today’s technology, the worth of these assets is ever-increasing.

Twenty years ago, what would you find in a classroom? Some desks and an overhead projector? How about now? Computers, laptop carts, smart boards, document cameras, tablets, and more.

The scope, value, and volume of these assets is far greater than what it used to be, and having an accurate accounting of these assets is crucial.

  • Proper Insurance Coverage

    • A wall-to-wall inventory will identify all assets that an organization physically has on-hand. This will enable the organization to ensure they are properly insured for contents.
  • Capital Budgeting

    • An accurate inventory report can be used to identify and plan for future equipment purchases.
  • Locate Missing Assets and Identify Surplus Assets

    • During an inventory, an organization may locate assets that were assumed to be lost. They may also identify assets that are no longer in use, thereby allowing for items to be sold or auctioned.
  • Accurate Asset Listing

    • Educational organizations purchase and receive assets. The asset information is then typically sent to the finance department to be entered into the fixed asset ledger and/or general ledger, where depreciation is set up. Then, on an annual basis, depreciation is calculated. Items are assumed to still be owned by the district.

If you assume from year-to-year that your asset list is accurate without verifying it, the ledger could become more and more inaccurate.

Locating missing and surplus inventory with accurate inventory reports provided by Asset Services

Get A Quote Today

Contact Asset Services today for a quote! Click below or call (844) 388-3400

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