Answers to frequently asked questions about equipment inventory can be found below. Clicking on a question's text will display the corresponding answer. If you have a question that is not answered below, please contact finance.equipmentinventory@ohio.edu.
If the item meets capital criteria the purchase must be made using an object code that starts with 74xxxx. Full listing along with the criteria is available here, /finance/accounting/equipment-inventory.
The Moving and Surplus department is in charge of the disposition of all equipment. If the equipment has a green University inventory tag an Equipment Status Change form (Excel) must be completed and sent to the Equipment Inventory office.
No. Items are tracked by the asset tag until it is sold or disposed.
No. Contact the Moving and Surplus Department and see the Policy on Disposition of Equipment for more information.
No. Please see the Policy on Disposition of Equipment.
No. The equipment is 51社区 property.
Contact the immediately and return the completed Equipment Status Change form (Excel) with a copy of the police report to the Equipment Inventory Office.
Yes and No.
Shipping is included in the cost of a capitalized asset and should be coded the same as the object code used to purchase the equipment.
Warranties are not included in the cost of the asset and should be coded as object code 717200.
Software is not usually an item that is capitalized unless it is purchased with equipment and the software is needed to run the equipment.
Example: QuickBooks software is purchased to be downloaded on a computer currently already in the department. This would not be capitalized and would not be tagged.
If the software is purchased with a new computer and is needed to run the computer then yes it would be capitalized.
Example 1: Microsoft Office is standard software that is included in a new computer but may have a separate charge on the invoice. The cost of the software is capitalized with the computer if the combined cost is greater than $5,000.
Example 2: A computer was purchased with specialized software to run new equipment. All items are purchased on the same PO. If the computer cost and the software combined are greater than $5,000 then the computer would be capitalized with cost of the software included. The object code for the software and computer would be 741115.
Contact the Equipment Inventory office to make arrangements to have the equipment retagged.
Contact the Equipment Inventory office with the tag number.
Contact the Equipment Inventory office with the tag number.
The equipment must be tracked until the item is no longer University property.
The ability to take equipment off campus is at the discretion of the department. If the item is taken off campus a Request to Take Equipment Off Campus form (Excel) needs to be completed, appropriately signed and a copy sent to the Equipment Inventory Office. The department should keep the original on file. When the equipment is returned to the department the bottom half of the Request to Take Equipment Off Campus form should be completed and a copy sent to the Equipment Inventory Office.
For Grant purchases:
If the equipment is going to be owned by the Sponsor upon completion: Charge the cost of the parts whether they are over or under $5,000 to object code 744500 and contact finance.grants@ohio.edu. When you are done constructing your item you will need to contact finance.grants@ohio.edu again so that they can red-tag the item.
If the equipment is going to be owned by the University upon completion: Charge the cost of the parts whether they are over or under $5,000 to object code 744600 and contact finance.grants@ohio.edu. When you are done constructing your item you will need to contact finance.grants@ohio.edu again so that they can green-tag the item.
For Non-Grant purchases:
Charge the cost of the parts whether they are over or under $5,000 to object code 715110 and contact finance.equipmentinventory@ohio.edu. When you are done constructing your item you will need to contact finance.equipmentinventory@ohio.edu again so they can green-tag the item.
This will follow standard disposal procedures. See 鈥淐hanges in Status of Equipment, Maintenance, and Disposition鈥 section, /finance/accounting/green-tag-equipment
BCB will not allow you to enter credits. So, you will have to create the requisition net of the trade in allowance. Please make sure you add the appropriate detail to the description on the requisition and attach the quote showing the gross purchase the trade in allowance.
When completing the Equipment Status Change form be sure to mark that this is a trade-in and to include the PO for the new purchase.