Your fixed asset register says one thing. The floor says another. Your finance team cannot close the gap with the data it has. Many teams then ask an outside team for help.
This article explains fixed asset reconciliation services. It shows what the work covers, what you receive, and what your finance team still owns. Use it to scope the work before you hire. If your own team will do the work, you can reconcile fixed assets yourself.
What reconciliation services solve
A fixed asset register is a list of what your company owns. Over time, the list and the real assets move apart. People move equipment. Sites close. Teams buy assets and no one records them. Disposals are not posted. Manufacturers, healthcare systems and public bodies all face this problem.
A reconciliation service compares the register with the real assets. It then finds four kinds of gap:
- Missing assets. The register lists the asset. No one can find it. Some teams call these ghost assets. See our guide to ghost asset detection.
- Unrecorded assets. The asset is on site. It is not in the register.
- Wrong location. The asset exists. The register shows another site, room or owner.
- Wrong class. The asset has the wrong category, description or useful life.
Each gap can change your books and your audit file. The service shows each gap. It gives your finance team the facts to decide. For the full service, see our asset and inventory reconciliation services.
In-house or outside team: 5 signs you need help
An in-house team can reconcile a small and stable register. Some situations need an outside team. Look for these signs:
- You have many sites. One team cannot be at each site at the same time.
- The register has drifted for years. The gaps are large and old.
- You bought a company. You inherited a register that you did not build.
- You are changing systems. The new system needs clean asset data on day one.
- An audit found a problem. You must show proof that your assets exist.
Government bodies have a clear rule for grant equipment. 2 CFR 200.313(d)(2) says a recipient must take a physical inventory of property. The recipient must reconcile the results with its property records at least once every two years.[S1] The rule covers equipment bought with a federal award. A State follows its own State laws and procedures for that equipment.[S1]
What you receive
Write the deliverables into the scope. Ask for these items:
- A reconciled register. It shows what exists on site.
- An exception list. It shows each gap and the type of gap.
- Assets found and assets not found. Each group has its own list.
- Location and owner updates. They show where each asset is and who is responsible for it.
- Proposed adjustments for your finance team. Your finance team reviews each one.
You receive the results in a file that your finance team and your auditors can use. Our project managers with our engineering and production department plan and run each engagement. CPCON reports 1M+ Assets Inventoried.
As an example, we reconciled the fixed asset records of an insurance company. Read the insurance fixed asset reconciliation case.
What the finance team still owns
Reconciliation finds the gaps. Your finance team decides what to do about them. Your finance team still owns three things:
- Accounting entries. Your team approves and posts each adjustment.
- Capitalization policy. Your team sets the rules for what counts as a fixed asset.
- Disposal approval. Your team approves each disposal.
We give finance the facts. Finance makes the decisions.
How to scope the work
Give an outside team five facts. They set the cost and the schedule of the work.
- Sites. How many sites, and where they are.
- Asset classes. For example plant equipment, IT equipment, vehicles or medical equipment.
- Systems of record. Where the register lives today. Our EAM and ERP fixed asset reconciliation guide explains why two systems can disagree.
- Deadline. The date you need the result.
- Audit link. The audit, grant report or period close that depends on the result.
Tell us your sites, asset classes and deadline. We will write a scope for you. Start with our asset and inventory reconciliation services.
Questions about fixed asset reconciliation services
- Is this the same as a physical inventory?
- No. A physical inventory checks what is on site. A reconciliation uses that result. It compares the result with your register. It then lists each gap and proposes adjustments.
- Do you change our books?
- We deliver the reconciled register and a list of proposed adjustments. Your team approves and posts all entries.
- What systems do you work with?
- We work with the system where your register lives. Tell us which system you use when you ask for a quote. We then confirm the file your finance team needs.
- How long does the work take?
- The time depends on the scope. The number of sites, the number of assets and your deadline all matter. We give a schedule when we agree the scope.
Related services
Some teams need a different first step. If you need to check what exists on site, see our fixed asset verification services. If your register needs a clean-up, see our fixed asset register management services. For the full program, see our fixed asset inventory services.
Sources
- [S1] US Government Publishing Office, eCFR, 2 CFR 200.313(b) and (d)(2), "Equipment": https://www.ecfr.gov/current/title-2/subtitle-A/chapter-II/part-200/subpart-D/subject-group-ECFR86b2b8b4f7a7d7e/section-200.313 (read 2026-11-11).