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Asset Reconciliation

Asset Reconciliation

Apr 23, 2024

Description

Asset Reconciliation is a procedure employed by the IT teams to check all the Fixed Assets that are actually allocated and used by the End Users and keep their Asset Management data up-to-date. The frequency of Asset Reconciliation process is decided by the Asset Managers.


Figure: ASSET RECONCILIATION FLOW DIAGRAM

Advantages

  • The Asset Reconciliation helps in identifying the Assets that are although allocated to users, but not any more required by them.

  • This helps in freeing the not required Assets, which can be reallocated to other users.

  • The Asset Management data is up-to-date.

Accessing the Feature

To reconcile the Assets, see Reconciling Assets, Sending Assets for Reconciliation and Verifying Asset Reconciliation.