Professional Documents
Culture Documents
Management of Capital
Equipment at the University
of Virginia
Introduction to Capital
Equipment Management
Equipment Additions
Equipment Disposals
Equipment Tracking & Maintenance
The Inventory Process
Financial Reporting
Equipment Additions
There are four ways that capital equipment
gets added to the Fixed Assets module
Cost transfers
– If the original expenditure category is wrong you
need to do a cost transfer (exception – All ETF cost
transfers are done by Fixed Assets Accounting)
Equipment/Property Contacts must:
Fill Out the P-1 Form When…
– Transferring Equipment internally
– Disposing of Equipment
– Releasing equipment to another institution
– Receiving specific types of Acquisitions
Review their Reports Monthly To…
– Ensure each organization has accounted for all capitalized
equipment as well as Government-Furnished or owned equipment
Inform Fixed Assets Accounting if equipment has changed
location or assignment
Review Not Found inventory lists and work with the Fixed
Assets Accounting to reconcile any differences
Ensure Inventory Certification is completed & submitted
Ensure Off-Grounds certifications are completed & submitted
Items You Will Need
Contact Information
List of Expenditure Types (Discoverer Report)
The P-1 Form and Instructions
Inventory Certification Form
Off-Grounds Equipment Certification
Form
Fixed Assets Accounting Staff