INSTRUCTIONS FOR CORRECTING
TRANSACTIONS SUBJECT TO THE NEW EQUIPMENT THRESHOLD
1.
Effective
2.
If an equipment
type item is received on or after
a.
Verify the
account number used is correct (see account descriptions listed below).
b.
If a correction
is required and the correct account number falls under the same budget category
as the posted expense, utilize the NCT (or FCT if federal funds are involved)
application to prepare a correction.
c.
If a correction
is required and the correct account number is in a different budget category as
the posted expense:
i.
Complete the
paper NCT (or FCT if federal funds are involved) form. The paper forms are available on the
Accounting Office website under “forms”.
ii.
Submit to Emma Odegard in the Accounting Office.
iii.
Accounting will
process the correction and coordinate with Equipment Management to adjust the
equipment inventory.
iv.
If a property tag
is received erroneously, please return to Equipment Management, Attention: Dennis Bailey.
3.
Equipment type
accounts numbers established for the implementation of the new equipment
threshold.
a.
Account 720200
Equipment Non-Inv, Non-Comp $200-$1499: Purchases related to
non-inventorial, equipment items costing between $200- $1,499.99 with a useful
life of more than one year. This account does not include computer type
items. Use account #770200 for
non-inventorial computer equipment costing between
$200-$1499.99. Use account #720205 for non-inventorial,
non-computer equipment costing between $1,500-$4,999.99.
See accounts listed under BC60 for inventorial equipment purchases of $5,000 or
more. Please see UCRPP 750-12.
b.
Account 770200-Computer
Equipment Non-Inv $200-$1499: Purchases related to non-inventorial,
computer equipment items costing between $200- $1,499.99 with a useful life of
more than one year, such as printers and disk drives. Use account #720200
for non-inventorial, non-computer equipment costing between
$200-$1499.99; use account #770205 for non-inventorial computer
equipment costing between $1,500-$4,999.99. See accounts listed under BC60 for
inventorial equipment purchases of $5,000 or more. Please see UCRPP
750-12.
c.
Account 720205
Equipment Non-Inv, Non-Comp $1500-$4999: Purchases related to
non-inventorial, equipment items costing between $1,500- $4,999.99 with a
useful life of more than one year. This account does not include computer
type items. This account will be used to exclude these expenditures from the
assessment of indirect costs during FY2004-05 and FY2005-06. Use account
#770205 for non-inventorial computer equipment costing between
$1,500-$4,999.99. Use account 720200 for non-inventorial,
non-computer equipment costing between $200-$1,499.99.
See accounts listed under BC60 for inventorial equipment purchases of $5,000 or
more. Please see UCRPP 750-12.
d.
Account
770205-Computer Equipment Non-Inv $1500-$4999: Purchases related to
non-inventorial, computer equipment items costing between $1,500- $4,999.99
with a useful life of more than one year, such as PCs and laptops. This
account will be used to exclude these expenditures from the assessment of
indirect costs during FY2004-05 and FY2005-06. Use account #720205 for
non-inventorial, non-computer equipment costing between
$1,500-$4,999.99. Use account #770200 for non-inventorial computer
equipment costing between $200-$1499.99. See
accounts listed under BC60 for inventorial equipment purchases of $5,000 or
more. Please see UCRPP 750-12.
e.
Accounts
803000-803999 (under Budget Category BC60), effective
4.
Additional
information on the equipment threshold change is available at the following
website: http://www.ucop.edu/irc/campus_specs/efa/final_qa_june2004.doc