Definition: Long-term tangible property used to run a business, such as hardware, equipment, or infrastructure. Reconciliation of fixed assets involves matching the physical inventory or sub-ledger records against the general ledger to ensure accurate depreciation and valuation.
Example: A global asset manager reconciles its fixed asset register against its general ledger to ensure that the depreciation recorded for its data center hardware matches the actual useful life and acquisition cost of the equipment.
Explore the IVP Reconciliation Solution
The IVP Reconciliation Solution extends its robust matching engine to non-trading data, including fixed asset registers. Our integrated service helps firms maintain a clean link between asset procurement and accounting entries. By automating the verification of asset values and depreciation schedules, IVP ensures that the firm’s balance sheet reflects accurate asset carrying values, minimizing the risk of year-end audit discrepancies.
