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Asset Capitalization
Definition of asset qualifying for capitalization:
- Acquisition cost of $5,000 or more per unit
- Tangible property
- Useful life at least two year
- Capacity to function on its own (not a component unit of another
asset)
Equipment Accounts
4452 - Software - All software should be charged to this account
regardless of cost.
4865 - Technical Initiatives - Computers and related hardware
costing less than $5,000 and that are not purchased with a procurement
card or through Micros & More.
4997 - Internal Service Equipment less than $5,000 - Micros &
More purchases costing less than $5,000.
4481 - Office Supplies - Equipment costing less than $5,000.
4850 - Equipment equal to or more than $5,000 - Equipment costing
at least $5,000.
8980 - Miscellaneous Income - Proceeds received from the sale
of equipment.
GL Account Types
1xxx = Asset
2xxx = Asset
3xxx = Payroll Expense
4xxx = Other Expense
6xxx = Liability
7xxx = Liability
8xxx = Revenue
9xxx = Fund Balance
GL Fund Descriptions
General Fund (11): University operating fund; expenses are
mostly salaries, equipment, telecommunications, supplies; revenues
are State Appropriations and tuition - this is filtered to the departments
through a budget
Designated Funds (23 and 24): departmental self-supporting
activity; funding source must be departmental activities, not
general fund or grant fund supported. Fund 24's revenue is gift
money transferred through the Foundation
Expendable Restricted (21, 25-30, 50 & 59): restrictions
are placed on the use of funding; Fund 21 represents gifts used
in the administrating of scholarships/aid; Funds 25-30, 50, &
59 represent revenue obtained through grants and contracts for
a specific purpose
Student Loan (31): accounts for short-term student loans;
revenue originates from various places and once established, acts
as a revolving loan fund
Annuity and Life Income (32): houses irrevocable planned
gifts from donors, where the income from the gifted asset to the
University is delayed until after the donor's (or surviving beneficiary's)
death
Auxiliary Activities (41 - 46): maintained to account
for revenue-producing, substantially self-supporting University
activities that perform a service but are not themselves educational
activities (ex: Athletics, Health Center, Bookstore, Miller Auditorium,
Physical Plant, Housing)
Agency (51 and 52): funds held by the University on behalf
of organizations associated with the University (ex: Alumni accounts,
student organizations)
Foundations (53, 54, and 56): accounts for donations made
to the University
Insurance and Benefits (55): houses employee retirement
and insurance programs
Plant (61, 63, 64, 65): accounts for University physical
properties and related indebtedness
JES
 JES
Screenshot
JES
User's Guide
JES Access Request Form
Transfer/Support Accounts
- 4995/8995 and 4999/8999
- Use either pair of accounts
- Move or transfer money between funds and/or departments
- Must be used together - debit to 4995 requires credit to 8995
- One-sided transfer/support entry generates an error
- Expense remains in account where incurred
- Support shows as revenue in transfer/support account
Plant Accounting
Call Michele Johnson or Kathy Dalman with any questions regarding
fund 63 departments. Glow may not reflect the correct balance.
Do not use 4xxx accounts with fund 63 departments.
Call Michele Johnson or Kathy Dalman prior to submitting a JES
for fund 63 departments. They will determine the proper accounts
to debit and credit.
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