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ghost asset

Definition

ghost asset

A ghost asset is a fixed asset in a general ledger (GL) that cannot be accounted for because it is physically missing or otherwise rendered unusable.

To identify and eliminate ghost assets effectively, a company must physically inventory fixed assets on a regular schedule. Asset management software can also be helpful because the software can automatically depreciate specific assets according to schedule and remove assets from the GL that have reached end-of-life.

See also: digital asset management, enterprise asset management

Related glossary terms: asset liability management, BIC (bank identifier code), e-invoicing, accounts payable, chart of accounts (COA), account, SQL-ledger, general ledger (GL), AR-to-GL reconciliation, BAI2 file format

This was last updated in March 2012

Posted by: Margaret Rouse

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