The patent discloses a system and related method for taking, receiving and reconciling physical inventory data against an asset management system from a remote location. In the disclosed system, assets as well as their locations are scanned using a hand held bar code scanner. Scanner information is uploaded to a particular location on a web server. Once transferred, the scanner files are converted to an intermediate database. Individual records of the intermediate database are then compared against their corresponding records, if any, in a main asset database by way of a web user interface. Records are modified, rejected or accepted by way of the web user interface, and then accepted records are written to the main asset database. In this way, multiple steps of the reconciliation process may take place at the same time, and reconciliation may be done quickly and efficiently, even from a remote location.