Accounting for Capital Assets

  • Properly identify and record all capital assets in the University’s PeopleSoft Asset Management System.  Capital assets include moveable equipment, intangible assets (such as software), art objects, library collections, fabricated equipment, capital leases, buildings, infrastructure and land
  • Assign asset descriptions, profiles, location, custodian, serial and model numbers, etc. for each capital asset
  • Maintain accountability for federally-titled capital assets records including acquisition, tagging, ownership, physical inventory, transfers, disposition, loss, theft or destruction
  • Record additions, transfers, trade-in’s, disposals, and retirement of movable equipment
  • Record gifts (equipment, art, land, etc.) as per notifications from donors giving or departments receiving such gifts
  • Post capitalization, depreciation & change vouchers to the University’s General Ledger
  • Coordinate with external consultant to complete the building componentization process
  • Comply with internal policies, external accounting standards (Generally Accepted Accounting Principles), and state and federal guidelines