Asset Reconciliation

We perform reconciliation between physical assets and existing financial or operational records, identifying unrecorded assets, duplicates, ghost assets, and misclassified entries. This helps organizations comply with audits, optimize insurance coverage, and align with accounting best practices.

Close the Gaps. Find the Missing Links.

Reconciliation bridges the gap between the physical world and digital records. We reconcile your current register with verified field data to uncover inconsistencies, discover unrecorded assets, and support compliance.

Activities Performed:

N3-way reconciliation (Physical – Register – Financial)
NGhost asset identification and write-off recommendations
NDiscovery of unrecorded assets for capitalization
NDocumentation for internal and external audits

Aligning Records with Reality

Asset reconciliation is the process of comparing physical asset presence with accounting records and existing registers. The goal is to ensure data integrity, identify ghost or unrecorded assets, and align asset ownership, classification, and location across departments.

N3-Way Matching: We compare three data sources:
(1) physical asset data collected onsite,
(2) current asset register, and
(3) financial fixed asset ledger.
NDiscrepancy Identification:
^Missing Assets: Recorded but not found physically.
^Ghost Assets: Physically found but not in any register.
^Misclassified Assets: Wrong location, user, or department.
NException Reporting: A detailed reconciliation report is produced showing additions, deletions, updates, and variances with root causes.
NFinal Alignment: Registers and ledgers are updated based on approved reconciliation results.

This process improves audit transparency, ensures correct asset capitalization, and removes errors that impact insurance, depreciation, and financial planning.

Reconciling your physical and financial asset records uncovers inconsistencies that impact compliance, planning, and profitability. Here’s how organizations transform through our reconciliation process:

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