One of the greatest impediments to implementing asset tracking is reconciling fixed asset accounting records. Ledgers are often years out of date with various capitalization limits and accounting approaches. We work with you to correct these deficiencies and create asset records that can be easily maintained and audited in the future. What we do is this:
An in depth review of the accounting records will often present the path to be followed. The assets age, type and available detail will dictate how best to approach the reconciliation. It is at this point that a realistic budget can be established.
Next, we conduct the field inventory to get an accurate picture of what assets exist, where they are and their present condition. This provides the basis against which the reconciliation will be developed.
Following the field inventory, we will use our specialized automated tools to compare the book and field data and match those assets in each data set.
Finally, we will physically match material assets between the two data sets that were not connected electronically so that ary material discrepancies are resolved. While this process can be time consuming, you control the extent of the effort by determining the parameters in the very first step.
We deliver our results identifying assets found, not found, added and relocated during the process.
The cost and complexity of reconciling fixed asset records is always result of the accuracy of the underlying fixed asset records. AssetWIN is the proven solution to keep reconciliation cost at a minimum.