1. Banner, Flashcart and Equipment Purchases OR WHAT NOW!?

2. Fixed Asset Policy Equipment over $2,500 with an expected useful life > 1 year Maintain an inventory with information regarding acquisition, book value and depreciation

3. Departmental Involvement Ordering of equipment Assist with tagging the equipment Notify the Comptroller’s Office when equipment is disposed, lost or stolen. Confirm equipment inventory on a periodic basis

4. New Banner Module Works with Flashcart to create new inventory items Replaces the current Access DB for inventory maintenance and reporting purposes Automatically capitalizes purchases to account codes 78011 and 78013 that are $2,500 and over.

5. What changes Review by the Comptroller’s Office of all requisitions using account codes 78011, 78013, 78012, 72024, 72023 A renewed emphasis on using the correct account codes and line information on requisitions in Flashcart A renewed emphasis on ordering equipment by complete units (many parts make up one unit)

6. Many Parts – One Unit Many times you are ordering a mix and match set of options to make up one unit. Wrong way:

7. Many Parts – One Unit Right Way: General description and attachment

8. Commodity, aka Line Accounting To avoid problems with payment going to the wrong account code for the equipment, if you mix equipment over $2,500 (78011/78013) with equipment under $2,500 (72024/72023) on the same requisition, you must use commodity level or line accounting.

9. What that looks like:

10. Questions? Mary Richards 2-0834 mrichard@kent.edu Larry McWilliams 2-9196 lmcwilli@kent.edu