Asset Ledger Reconciliation: How Accounting Uses the Inventory
Often, a medical equipment inventory is utilized by a healthcare facility to simply know what they have and where it is. A beneficial next step to the inventory that helps finance and accounting is an asset ledger reconciliation. This enables the facility to not only understand what they have, but match it to asset journal entries to gain a better understanding the equipment in it’s lifecycle. This process assists in equipment write-off’s, discrepancies, and financial planning for the facility.
An asset ledger reconciliation is something that differentiates a simple inventory to an inventory that is actionable with results. At MERC, we have always pushed to differentiate our services the same way and offering this service to customers helps them save money as well as better allocate funds to the ongoing management of the equipment portfolio. Reconciling an inventory to an asset ledger line-by-line is a difficult task, but one that is necessary. Having helped many hospitals achieve over 90% of their remaining book value reconciled to their equipment inventory, MERC has the expertise to empower facilities with information to make the best financial decisions with their equipment.
If you would like to learn more about MERC’s inventory and reconciliation services, and how they can help your facility, contact us today.