||Movable Capital Equipment (Furniture)
FIN-ACC-I-150, Capitalization of Movable Equipment
FIN-PUR-9.0, Furniture Purchase
||FIN-ACC-I-170, Capital Movable Asset Physical Inventories, Tagging and Location Changes
FIN-ACC-I-180, Depreciation of Capital Assets
FIN-ACC-I-270, Ownership of University Capital Assets
||Capital Assets Standard Operating Procedures
Things to Know:
- Equipment is defined as personal, tangible property. Equipment with an acquisition value of $5,000.00 or more and a normal life expectancy of greater than one year is defined as capital equipment.
- Go to Furniture Purchasing for procedures and how to place an order.
- To properly capitalize equipment the correct object code must be used on the purchase order and other financial transactions. See list of Object Codes (look for General Expenses: Supplies and Equipment) or if you have questions, please contact your Campus Chart Manager (List of Chart Managers). Karin Coopersmith from Purchasing (812-855-5813, email@example.com) will help you get started.
- Journalism Notes: For most furniture orders under $5,000 use account XX-XXX-XX and object code 5211. On your requisition, please put on the reference line the person or room # where furniture will be placed.