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Acquisition of Asset Found Inventory Services The University of Texas at Austin.

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Presentation on theme: "Acquisition of Asset Found Inventory Services The University of Texas at Austin."— Presentation transcript:

1 Acquisition of Asset Found Inventory Services The University of Texas at Austin

2 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.

3 Why does this happen? Incorrect object code on original payment voucher. Miscommunication between department and Inventory Services Items written off but found by department

4 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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