Fixed asset reconciliation refers to comparing your fixed asset register against your general ledger to ensure they match. This type of account reconciliation verifies that your registered asset values, including costs and accumulated depreciation, align with those of actual physical assets and their financial condition.
Using our AI reconciliation solution, you can efficiently track your asset lifecycle from acquisition to disposal. Plus, you can easily maintain compliance with accounting standards such as GAAP and IFRS and ensure your balance sheet accurately reflects the fair value of your fixed assets.
Asset acquisitions and initial recognition
Purchase orders and capital expenditure approvals
Asset transfers between locations or business units
Component additions and improvements
Depreciation and amortization calculations
Impairment losses and revaluations
Maintenance and repair records
Asset disposals, sales, and retirements
Accumulated depreciation adjustments
Physical verification and audit results
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Feed your physical audit findings from mobile devices or spreadsheets, and let Recogent compare them against your asset register to flag discrepancies requiring investigation.
Don’t just stick to tracking asset data, unlike in traditional fixed asset software. Utilize Recogent’s AI-enabled reconciliation agents to actively identify missing assets, detect calculation errors, and receive intelligent recommendations to reduce manual reconciliation.
Don’t just stick to tracking asset data, unlike in traditional fixed asset software. Utilize Recogent’s AI-enabled reconciliation agents to actively identify missing assets, detect calculation errors, and receive intelligent recommendations to reduce manual reconciliation.
Faced with complex depreciation scenarios like mid-year conventions, half-year rules, bonus depreciation, or Section 179 deductions? Handle them all with automated AI-powered depreciation calculations based on your suitable method and policies.
Monitor asset locations, conditions, values, and depreciation status globally through intuitive dashboards that provide instant visibility into your fixed asset portfolio.
Simply integrate maintenance records with asset data to let AI forecast optimal maintenance schedules. Identify and replace assets when repair and maintenance costs exceed replacement value.
12-15 days of manual verification and calculation
Ghost assets inflating the balance sheet by 5-15%
Depreciation errors requiring journal entry corrections
Physical audits taking weeks to complete
Audit sampling requiring days of documentation gathering
Continuous real-time reconciliation
99% accuracy with automated matching
Immediate ghost asset identification
Instant depreciation calculation verification
Always audit-ready with complete documentation trails
We partner with individuals and organizations on their journey to digital transformation. See how startup founders around the world have leveraged our services to build great products and even stronger relationship with their customers.
Recogent’s AI account reconciliation solution compares your asset register against physical verification results, maintenance records, and usage data. When assets show no activity, can’t be located during physical counts, or display anomalous patterns, our AI account reconciliation agents flag them for further investigation, dramatically reducing false balance sheet inflation.
Most clients complete the implementation of fixed asset account reconciliation within 3-5 weeks. Our team handles all integration work, configures depreciation rules, imports historical asset data, and trains your team; you don’t need any technical resources from your side.
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