Asset Verification, Tagging & Reconciliation

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Asset Verification and Tagging means the identification, tracking, and controlling of assets with

tags in order to avoid asset misappropriation and maintain smooth operations throughout.

Asset reconciliation is a very important part of asset management. It is the process of reconciling

the discrepancies between a physical inventory of what exists and the Asset record as it exists in

the accounting system and is a very crucial thing for any Organization.

With high capital and revenue expenditure against a growing number of compliance

requirements, it is vital that proper inventory records are kept, and asset verification is done.

Benefits of Asset Verification Tagging and Reconciliation:

  • Regular tracking of assets
  • Correct Financial Reporting
  • Reduces theft       
  • Superior monitoring of movement
  • Saves time and money     
  • Efficient resource Allocation

Author: Etta Howard

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