Table of Contents

Reconciling Single Transactions as Assets

Jennifer Sneider Updated by Jennifer Sneider

All AssetHub users can access this feature. 

Warning: Your accounting team may have already uploaded a financial ledger of assets. Please contact your Account Manager at (310) 451-1792 prior to reconciling to verify that you are reconciling correctly

Creating a Single Asset   

  1. While logged in to your Series/Feature, click Transactions on the top navigation bar. 
  2. Click a specific Transaction. 
  3. Select Create New in the expanded row. 
  4. Enter the Asset's Disposition and any other required field marked with an asterisk (*). Add additional details to the Description and Disposition Note fields if needed.
  5. If you have a photo, click the + Photo button to attach it.
  6. Once you have entered all of the information, click Save.   
  7. A notification will appear at the bottom of the screen to confirm that an Asset has been created. The Transaction will disappear from the Transactions Index and appear in the Assets Index

Matching to an Existing Asset  

  1. While logged in to your Series/Feature, click Transactions on the top navigation bar. 
  2. Click a specific Transaction. 
  3. Select Match - Existing Asset(s) in the expanded row. 
  4. On the next page, use the search bar and filter options to find the existing Asset you would like to match to your Transaction. (You can only see Assets in departments you have access to.)
  5. When you find the Asset, click the checkbox on the left side.   
  6. Choose how you want to assign the Cost (USD) value:
    1. By default, the Cost (USD) value automatically updates to the sum of all Transactions linked to the Asset.
    2. Check the box next to Keep Total shown in Cost (USD) to override the default and use the value displayed in that field.
      To manually update the Cost (USD) value, hold down shift on your keyboard and click the Cost (USD) field for the Inventory item you are matching to your Transaction(s). Press Return to save the value. This will allow you to update the cost displayed to reflect the total cost of the Transaction(s). 
Note: The difference in cost between the Asset and Transaction will be listed at the top of the page.
  1. When you are satisfied with the match, click Match.
  2. A notification will appear at the bottom of the screen to confirm that the Transactions have been successfully matched to the selected Assets.
Pro Tip: If you have a positive and negative Transaction that makes up a returned item, check out Handling Returns.

Other Methods of Reconciling Transactions

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Creating Assets with Asset Import

Reconciling Journal Entries

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