Asset reconciliation

Asset reconciliation is used to reconcile one or more asset accounts. Asset additions, adjustments, transfers, and disposals are used to calculate an ending balance, which can be compared to the ledger amount. The report group is used to group the asset and accumulated depreciation accounts for analysis.

• On the Period Reconciliations tab, open a period record. An asset reconciliation that is scheduled for a period shows the amount in the Ledger Amount field.
• On the Reconciling Items tab, create reconciling items for the period.
• The Asset Amounts tab shows the asset additions, asset adjustments, asset transfers, and asset disposals for the period.
• The Ledger Transactions tab shows the general ledger transactions that are posted for that period.
• The Non Asset Journal Transactions tab shows any posting to the GL account that did not originate from Asset Accounting.
• Adjusting journal entries can be processed on the Distributions tab. For example, a write off of an item and amount.
• Optionally, provide a comment on the Comments tab.