Accountant struggles to reconcile fixed asset expense accounts with accumulated depreciation/amortization accounts due to missing historical data and unclear methodology.

Workarounds Described

• Manually investigates GL to compare expense accounts to accumulated balances since inception
• Considers making a large manual adjustment to reconcile accumulated balance accounts

Implied Software Gaps

• Automated reconciliation of fixed asset schedules with accumulated depreciation accounts
• Historical gap analysis to identify when and where discrepancies originated
• Adjustment calculator suggesting optimal correcting entries

AssetRecon

AssetRecon is a cloud-based tool that automates the reconciliation of fixed asset expense and accumulated depreciation accounts. It ingests historical GL data, builds a complete asset schedule from inception, and flags discrepancies for adjustment, ensuring accurate balances without manual digging.