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Cost < $5,000 per unit

OR

useful life < 2 years

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General Ledger Accounts to Use for Equipment & Furnishing Purchases

There are specific general ledger accounts available for recording equipment, furnishing, software, and fixed equipment purchases. Following is a description of the accounts available and the types of expenses that should be recorded in each. Please use the following information to identify the proper general ledger account when preparing your purchase order or reclassifying your credit card charges on Smart Data On Line (SDOL), previously PVS.Net.

Equipment & Furnishings: This group of assets generally includes all items that are perceived as moveable personal property. These items are tagged with university property identification tags to deter theft, promote good asset management and provide a basis for university departments to conduct the annual equipment inventory.

Cost < $5000 per unit
OR
 useful life < 2 years
 Cost > $5,000 per unit
754900 Furnishings
or
805200: Equipment that is Tagged, Not Capitalized or Depreciated

Normally the equipment has a purchase price between $1,000 and $5,000. Lower dollar value technology related items though can also be placed in this category and are tagged as well.
801000: Equipment that is Tagged,
Capitalized and Depreciated
 
Examples may include: cameras, digital cameras, stereos, audio visual equipment, televisions, VCRs, DVDs, printers, computers, electronics, and digital media equipment.
Examples may include items > $5,000: lab equipment, large copiers & printers
 
 

Upgrades or Other Enhancements: After purchasing computers, machines or other equipment, a department may purchase an upgrade or other enhancement for the original item. The general ledger account used for such subsequent purchases will depend on how the original purchase was recorded:

Original Purchase Recorded as
805200 Equipment Not Capitalized
Original Purchase Recorded as
801000 Equipment Capitalized
805201 Upgrades / Components
for Equipment not Capitalized
801100 Upgrades / Components
for Capitalized Equipment

Software: This group of assets generally includes purchased software. Either of the following general ledger accounts can be used, depending on how your budget was prepared:

753500 Software

805100 Software

Title Vehicles: For vehicles which have a title and registration, general ledger account 801200 Title Vehicles should be used. Please note that Athletic Vehicles require special treatment; please contact Tricia Cotter, General Fund Accountant. Please ensure that the vehicle has proper insurance coverage; please contact Risk Management.

Fixed Equipment: Fixed equipment is affixed to the building and is therefore not moveable. These items should be recorded in general ledger account 805000 Fixed Equipment.

Note: For grants, please consult with your Grant Accountant to ensure that the correct general ledger account is used when preparing your purchase order. This will ensure that the expense is recorded in the proper sponsored class and will minimize variances from budget.