Overview

Updated on 28 Jun 2024
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Asset Reconciliation is a process used by IT teams to verify that allocated fixed assets are still in use. This involves obtaining acknowledgment from end users and their managers regarding asset usage, ensuring accurate asset inventory data. The frequency of Asset Reconciliation is determined by the asset managers.

Refer to the below flow diagram to understand Asset Reconciliation process:

Figure: Asset Reconciliation flow diagram

Advantages

Aids in identifying assets allocated to end users but no longer needed by them.
Allows for the release of unneeded assets, which can then be reallocated to other users.
Ensures the asset management data is up to date.

Let's explore the following use case!

Use Case

User Persona: Administrator

Solution

NovaTech's IT department manages a large inventory of computer equipment, including laptops, desktops, and peripherals.

Over time, employees may leave the company or change roles, resulting in unused or underutilized assets.

To address this issue, Sandra can conduct regular Asset Reconciliation to ensure that all allocated assets are still in use and properly accounted for.

This can be configured in the Asset Reconciliation functionality. This reconciliation activity can be performed for a specific Tenant.

Configure Asset Reconciliation

To configure Asset Reconciliation, perform the following steps:

Navigate to Design Studio > Asset Management Module > Configurations > Asset Masters > Asset Reconciliation. The Asset Reconciliation List page is displayed with configured records.
Figure: Asset Reconciliation List page
Click New to create a new Asset Reconciliation configuration.
On the new configuration page, enter all the required details as shown below. For more information on fields, refer Field Description.
Figure: Asset Reconciliation Details page

Field Description

This table contains the list of fields and their descriptions that are available under Asset Reconciliation page:

Field	Description
Tenant *	Select the Tenant for which you wish to configure the Asset Reconciliation.
Reconciliation Name	Enter a specific Reconciliation Name to check if the assets belong to the end user.
Description	Enter a description regarding reconciliation profile that is created.
Sort Order	Choose the sorting order for displaying or listing Asset Reconciliation records.
Do you require an Escalation?	Select to send an escalation notification for the Asset Reconciliation. If selected, you can specify the no. of days/reminders after which the escalation notifications should be sent to the Reporting Manager of the user (who has not taken any action for Asset Reconciliation). If not selected, no escalation notifications are sent to the Reporting Manager. Note The escalation e-mail is sent to the mangers with a consolidated list of Users and Asset details. All the concern Users are marked under CC in the escalation e-mail notification.
Send Reminder to User	If enabled, a reminder will be sent to the user.
Default	Select the Default check box to set the particular record as the default display.
Active	Indicates the status of the Asset Reconciliation. If selected, the Reconciliation is active and is displayed in the Asset Reconciliation Configurations list. If not selected, the Reconciliation configuration is not selected by any linked functionality.

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Overview

Table of contents

Configure Asset Reconciliation