Disclosed are methods, systems, and computer program products for performing an on-demand book balance to physical balance reconciliation process for liquid product. The method can include receiving an indication that a delivery of product is about to occur at a retail facility. Based on the received indication, and optionally while fuel is dispensed from one or more storage tanks, a first book balance to physical balance reconciliation can be initiated for one or more storage tanks at the retail facility prior to receiving a delivery of liquid product. Following completion of the first book to physical balance reconciliation, an amount of liquid product as indicated on a delivery document is delivered and then the system automatically performs a second book to physical reconciliation process to identify one or more discrepancies between the amount of liquid product in the storage tanks and a physical amount of liquid product actually delivered.