Free Accounting Fixed Asset Reconciliation Checklist

Carefully review each item as you go through the process: the pre-reconciliation, reconciliation and post-reconciliation. Check each item as you complete it.
Pre-Reconciliation Preparation
Gather all necessary documentation.
Review and understand the company's fixed assets policy.
Ensure that the accounting period is correctly set in the accounting system.
Identify the key accounts and ledger entries to be reconciled.
Clarify any uncertainties or ambiguities in the fixed asset records with the necessary departments.
Reconciliation Process
Calculate the depreciation of fixed assets for the accounting period.
Match the ledger entries with the tangible fixed assets.
Confirm the accuracy of addition and disposal of fixed assets.
Check the consistency of accounting treatment for similar types of fixed assets.
Investigate any discrepancies and correct them where necessary.
Post-Reconciliation Review
Prepare a reconciliation summary report.
Review and sign off the reconciliation by the responsible parties.
Save all supporting documents for auditing purposes.
Communicate the outcomes of the reconciliation to all concerned parties.
Update the fixed asset register and the general ledger accordingly.
Prepared By: [Your Name]
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Ensure accurate reconciliation using our Accounting Fixed Asset Reconciliation Checklist Template, available on Template.net! This editable and customizable checklist guides you through the reconciliation process. Leverage the AI Editor Tool for modifications, ensuring a checklist aligned with your specific reconciliation criteria. Embrace the adaptability for precise and efficient financial reconciliation!
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