Archived Data from prior periods is available in the FYI Archive.

The Banner Fixed Asset module is replacing the HUM equipment system. On November 15, the Banner Fixed Asset module will begin capturing information charged to capital equipment accounts at the time of invoice and journal entry posting.

Please review the following before processing capital equipment related requisitions, purchase orders, invoices or journals. Included are reminders on processes and procedures that are critical to maintaining proper records in Banner Fixed Assets.

  1. New Banner Message Overall, the invoice and journal processing remains unchanged with one exception. When processing invoices or journals using a combination of capital equipment and non-capital equipment accounts, a new warning message will be generated and users must click OK to proceed to the next step. Users only need to acknowledge the warning and complete the invoice.

  2. Quantity and cost Process requisitions and invoices with the correct quantity and cost per unit. this is critical to maintaining the integrity of the Banner Fixed Asset module. The unit quantity and the price work together to create tags for all items processed with the capital equipment account codes and to capitalize any item that meets the per unit USNH capital threshold of $5,000.

  3. Capital Equipment Account Codes Process requisitions and invoices with appropriate account codes. Only recognized capital equipment expense account codes generate the tags and capitalization entries required in the fixed asset module.

  4. All capitalized equipment account codes are in the 7400 range of Banner account codes with the following exceptions:

    • 740003 - grant equipment purchases between 3K and 5K. These costs are not capitalized. This account code is for equipment purchases on sponsored awards only.
    • 740010 - flight parts.
    • 740099 - capital equipment adjustment.
  5. Treatment of shipping, discounts, installation, training and setup costs Use the same capital equipment account codes to process freight/shipping or delivery charges, discounts, installation, training, or setup charges if they re necessary for the use of the equipment. These costs may or may not be included with the initial purchase or on the same invoice. Please key these amounts into the additional cost field on the accounting screen. this will allow these amounts to be automatically included in the asset cost records.

  6. Use of document text for notes Add explanations, such as notes on partial, progress, or installment payments per the terms of the order or the fabricated equipment project name, to the document text area of the requisition and/or invoice.

  7. Online equipment policies and procedures Review updated Draft equipment policies and procedures available online at Procedures-Drafts

  8. Questions? Please contact Property Control, either Cathy Upham at 862-3645 or Pascha Gerni at 862-2644, with any questions or comments.
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Last Modified: 6/21/2012 12:26 PM
Last Published: