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Published byJuliet Richards Modified over 9 years ago
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Acquisition of Asset Found Inventory Services The University of Texas at Austin
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What does this mean? The “FND” source code is used when Inventory Services adds a record to DEFINE that was incorrectly accounted for in a prior fiscal year. This source code is used so financial statements can still be accurately reported to UT System.
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Why does this happen? Incorrect object code on original payment voucher. Miscommunication between department and Inventory Services Items written off but found by department
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What should I do? Departments should not have controlled or capitalized assets without the University’s knowledge Notify Inventory Services at INVgeneral@austin.utexas.edu if you have a tagged item but is not in your department inventory INVgeneral@austin.utexas.edu
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