
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 |
uShop Tips for Entering Requisitions
When entering requisitions into uSHOP here are some important aspects to check in order to avoid having your requisitions returned.
- Invalid Account Codes.
- Improper description.
- Invalid quantity or quantity type.
- Quote is not attached.
- Lack of information in internal notes.
Helpful Tools
Our training powerpoint for the Fixed Assets and Equipment Tracking class may answer some of those lingering questions. Check it out!
Equipment Account Codes
We now have an updated equipment account code listing including new accounts for federally procured property.
Fixed Assets Tips
Use our Fixed Assets Tip Sheet for a quick reference guide for Banner Fixed Asset searches, Account Code tips, and much more.