Equipment

Purchasing Fixed Assets

There are several important factors to consider when purchasing a fixed asset. Here are some tips to keep in mind that will help you accurately acquire and record your asset.

Consider the ENTIRE cost of the item when assigning your account code. The cost of the asset in addition to delivery fees, legal fees, and installation charges may be combined to determine if the total cost is $5000 or more.
Use EA for 'Each' as the unit of measure in uSHOP when purchasing assets with a Quantity Unit Price.
If all line items on your uSHOP order create ONE asset, use the same fixed asset expenditure account for each line.
Any item purchased which is to be permanently added to, attached to, or installed onto a previously purchased asset, must be coded using the same expenditure account code as the item you are affixing it to.
When purchasing fixed assets using Grant funding, please refer to the Offce of Sponsored Programs Policy for Equipment Purchases on Contracts and Grants.
Do not include Maintenance Agreements, Service Contracts, or Extended Warranties in your asset's cost. These purchases require separate account codes. Make sure your maintenance contract type matches the equipment type.

924420	Maint Contracts - Office Equip
924430	Maint Contracts - Mainframe
924431	Maint Contracts - PC & Printers
924432	Maint Contracts - Video Equip
924433	Maint Contracts - LAN Equip
924434	Maint Contracts - WAN Equip
924435	Maint Contracts - Servers
924436	Maint Contracts - Other EDP
924440	Maint Contracts - Other Equip
924450	Maint Contracts - Other Software
924451	Maint Contracts - PC Software
924452	Maint Contracts - Server Software
924453	Maint Contracts - WAN Software
924454	Maint Contracts - Mainframe Soft
924490	Maint Contracts - Misc Other
953990	Use for Computrace