Fixed Asset Inventory and Accounting Reconciliation
We physically record and inventory each asset, verify its alignment with the fixed asset register, resolve any discrepancies, and provide you with an updated, certifiable asset base that can be integrated with your management system.
For over 25 years, we have supported .
From the survey to the verified capital base, in three operational phases
Physical inventory of fixed assets
A specialized team travels directly to the site to systematically survey each asset. During the inspection, elements such as physical presence, precise location (including georeferenced), operating conditions, and the application of an identification code via QR code or RFID are recorded.
The result is a true and complete mapping of the entire asset: each asset is identified, labeled, and tracked, with accurate and immediately usable data.
Reconciliation with the fixed asset ledger
Once the physical inventory is complete, the collected data is compared with the company’s fixed asset register or the asset list provided.
This reconciliation process allows for the consistency between actual assets and recorded assets to be verified, identifying any discrepancies, duplications, and assets that no longer exist or are not recorded in the balance sheet.
Any anomaly is tracked in a detailed report, providing a clear picture of the assets’ status and supporting any adjustments or accounting updates.
Reconciliation with the fixed asset ledger
Once the physical inventory is complete, the collected data is compared with the company’s fixed asset register or the asset list provided.
This reconciliation process allows for the consistency between actual assets and recorded assets to be verified, identifying any discrepancies, duplications, and assets that no longer exist or are not recorded in the balance sheet.
Any anomaly is tracked in a detailed report, providing a clear picture of the assets’ status and supporting any adjustments or accounting updates.
Delivery of the new fixed asset register
At the end of the process, an updated, verified, and digitized asset base is delivered: a complete inventory, with all assets identified, tracked, labeled, and geolocated.
The new asset register is consistent with accounting records, supported by technical documentation, and ready for audits, reviews, budgeting, or reconfiguring management processes.
The data is provided in a format compatible with the Geomap system or exported for import into the client’s management software.
In just a few days, the asset register becomes a tool for control, transparency, and decision-making.
Why choose Geomap's Asset Inventory and Accounting Reconciliation service?
Each asset is precisely identified, tagged, and tracked, building a verifiable, ready-to-use asset base.
Deviations between physical assets and the asset register are detected and documented, allowing for more transparent management that is aligned with real data.
The updated assets are made available in digital format, easily integrated into existing accounting or management systems.
Want to know if the service is right for your project?
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Frequently Asked Questions about the Asset Inventory and Accounting Reconciliation service
What is meant by physical inventory of fixed assets?
The physical inventory consists of the direct and systematic verification of the presence, location, and characteristics of tangible assets registered in the asset register.
Each asset is identified, photographed, described, and, if applicable, labeled with a QR code or RFID. The data collected is used to align the actual situation with that reported in the asset register, eliminating discrepancies and anomalies.
What data is collected during the census?
What information is collected during the inventory?
How does reconciliation with the fixed asset ledger occur?
Once the inventory is complete, the data is compared with the accounting list provided by the client (e.g., fixed asset register, asset records, ERP database).
The reconciliation identifies missing, duplicate, decommissioned, or never-recorded assets. Each discrepancy is documented in a structured technical-accounting report, useful for corrections, updates, or formal alignments.
Is it possible to integrate the data with the existing management system?
Yes. The data is provided in standard, interoperable formats (Excel, CSV, XML, JSON, or via API), so it can be easily imported into your existing management, ERP, or accounting system.
Upon request, we can create customized reports based on the technical specifications of your software.
Quanto tempo richiede un progetto di inventario e riconciliazione?
Times vary based on the number of assets, their geographic distribution, the quality of existing accounting data, and the availability of floor plans.
Is QR or RFID tagging included in the service?
Yes, upon request. Assets can be physically labeled with QR codes or RFID tags, ensuring unique identification, traceability, and quick retrieval via smartphone or tablet.
The labels are customizable, durable, and numbered sequentially, even according to the client's existing system.
Is the service also valid for audits and inspections?
Absolutely. The service was designed to meet the needs of auditors, audit firms, certification bodies, and the Court of Auditors.
The documentation produced complies with financial reporting standards required in the public and private sectors.
All data collected is verifiable, traceable, and supported by documentary evidence.
Is it possible to keep the inventory updated over time?
Yes. The inventory can be kept up-to-date directly through the Geomap AMS software or through structured periodic update procedures, defined with the client.
It is possible to register new assets, manage divestments, modify technical data, or move assets, maintaining the continuity of the asset base over time.
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Book a free consultation with one of our experts. In just a few minutes, you’ll understand the timeframes, costs, and results you can achieve with our Asset Inventory and Accounting Reconciliation service.