Things to Know:
- Operating software purchased with a computer package will be capitalized as part of the initial cost of the computer.
- Computer package is a purchase of the main computer central processing unit and could include a monitor, keyboard, mouse and operating software.
- Application software is canned programs that offer special functions (i.e. Harvard Graphics, LAN based user packages) and shall be capitalized as a seperate asset if the acquisition value is $5,000.00 or more and has a life greater than one year.
- For software to be secured as capital, the correct object code must be used on the purchase order and other financial transactions. A list of object codes (income and expense) is available by contacting your campus Chart Manager (List of Chart of Account Managers) or in the KFS Object Code Reference Table.
- For more information please contact Jennifer George, email: email@example.com