Class/Account Codes For Capital Expenses
NOTE: For capital account codes 4602-4610, include only those items that individually cost $5,000 or more and have a useful life of two years or more. The $5,000 minimum also does not apply to equipment accessories which are attached to previously purchased capital items. Ancillary costs, such as transportation and installation, should be capitalized. Replacement parts or renovation which costs $5,000 or more and which extend the useful life should be capitalized.
In any situation where land, buildings, equipment, software, vehicles, etc., are obtained through a lease agreement, the determination has to be made as to whether the transaction constitutes a rental, capital lease or a non-capital lease. Four criteria must be examined. Refer to Exhibits B & C for guidance in making this determination. If the transaction meets one or more of the criteria, it is a Capital Lease. The portion of the payment on a capital lease related to interest should be included in the capital lease code and not recorded as interest expense.
Legacy |
SFS |
Description |
4110 |
4602 |
EQUIPMENT - LABORATORY & CLASSROOM |
4120 |
4603 |
EQUIPMENT - MEDICAL |
4190 |
4420 |
LIVESTOCK |
4200 |
4620 |
COMPUTER EQUIPMENT INCLUDING DATA COMMUNICATION AND DATA/WORD PROCESSING EQUIPMENT |
4205 |
4625 |
COMPUTER EQUIPMENT - CAPITAL LEASE |
4220 |
4630 |
SOFTWARE PURCHASE - $5,000 OR MORE |
4225 |
4635 |
SOFTWARE - CAPITAL LEASE |
4500 |
4652 |
AUTOMOBILES |
4505 |
4655 |
AUTOMOBILES - CAPITAL LEASE |
4510 |
4660 |
TRUCKS AND OTHER VEHICLES |
4515 |
4665 |
TRUCKS AND OTHER VEHICLES - CAPITAL LEASE |
4600 |
4604 |
EQUIPMENT AND FURNITURE - NON-WOOD |
4605 |
4605 |
EQUIPMENT AND FURNITURE - CAPITAL LEASE |
4610 |
4640 |
FURNITURE - WOOD |
4650 |
3830 |
TEXTBOOKS AND SOFTWARE - FOR RENTAL TO STUDENTS |
4698 |
4680 |
CAPITAL PURCHASES - INTER-INSTITUTIONAL AGREEMENTS |
4810 |
4480 |
LAND (Include Grounds Number) |
4815 |
4485 |
LAND - CAPITAL LEASE (Include Grounds Number) |
4820 |
4490 |
LAND IMPROVEMENTS (Include Grounds Number in Sub Class field) |
4850 |
BUILDINGS AND ATTACHED FIXTURES (Include Building Number in Sub Class field) |
|
4855 |
BUILDINGS AND ATTACHED FIXTURES - CAPITAL LEASE (Include Building Number) |
