Internal Fixed Asset Reconciliation Process

Internal Fixed Asset Reconciliation Process

Verasset’s on-the-ground Inventory Services enable your finance team to Reconcile your Fixed Asset Register internally.

Verasset provides a wide range of services related to fixed asset management and tracking. Our expertise lies in the areas of taking physical inventory of capital fixed assets and performing book to floor fixed asset reconciliation.

From time to time, we have clients that prefer to handle reconciliation procedures internally, but still need an up-to-date, accurate baseline inventory of the fixed assets deployed throughout their environment. In most cases, the client has adequate resources available to perform the reconciliation, but not enough feet on the ground to physically touch/inventory each asset, particularly if they are geographically dispersed. This approach offers the client full control over the reconciliation and any adjustments that need to be made as a result. Performing the reconciliation internally can also be more cost-effective.

Verasset performs the physical inventory with a full understanding of the end goal and project requirements. This includes a full review of asset tracking/management as well as fixed asset capitalization policies. We also perform a thorough review of the fixed asset register. This review process ensures that the inventory team takes a very targeted approach for locating all assets deemed to be in-scope of the effort, affixing asset tags, and recording asset data in line with corporate policies.

Verasset can separate out the various service costs allow the client to choose those most suitable for their needs and budget. Contact us to get a quote and proposal for our services.