Ohio University

Finance

Equipment Inventory FAQs

Answers to frequently asked questions about equipment inventory can be found below. Clicking on a question's text will display the corresponding answer. If you have a question that is not answered below, please contact finance.equipmentinventory@ohio.edu.

Who do I contact to dispose of equipment?

Should I remove the asset inventory tag before sending the equipment to the Moving and Surplus department?

Can the department sell equipment that is no longer needed?

Can the department donate equipment that is no longer needed?

Can an employee keep equipment when they retire or leave the University?

How do I report stolen capital equipment?

Are shipping or warranty costs included in the cost of the capitalized asset?

Is software included in the cost of the capitalized asset?

Software is not usually an item that is capitalized unless it is purchased with equipment and the software is needed to run the equipment.

Example: QuickBooks software is purchased to be downloaded on a computer currently already in the department. This would not be capitalized and would not be tagged.

If the software is purchased with a new computer and is needed to run the computer then yes it would be capitalized.

Example 1: Microsoft Office is standard software that is included in a new computer but may have a separate charge on the invoice. The cost of the software is capitalized with the computer if the combined cost is greater than $5,000.

Example 2: A computer was purchased with specialized software to run new equipment. All items are purchased on the same PO. If the computer cost and the software combined are greater than $5,000 then the computer would be capitalized with cost of the software included. The object code for the software and computer would be 741115.

I have a tag that is worn or fallen off. Can I get a new tag?

What do I do if there is equipment on the department’s inventory list that is not ours?

What do I do if we have equipment that is not on the inventory list?

There is equipment on the list that is old and has no resale value. How long do we have to track the equipment?

Can I take equipment off campus?

The ability to take equipment off campus is at the discretion of the department. If the item is taken off campus a Request to Take Equipment Off Campus form (Excel) needs to be completed, appropriately signed and a copy sent to the Equipment Inventory Office. The department should keep the original on file. When the equipment is returned to the department the bottom half of the Request to Take Equipment Off Campus form should be completed and a copy sent to the Equipment Inventory Office.

I am constructing/fabricating an item that will be moveable equipment and the cost of all the parts is going to be over the capitalization level of $5,000 when I am finished. I am purchasing parts from different vendors. What object code should I use when I purchase the parts?