Asset account classifications
Specific account classifications need to be used when acquiring assets. Asset account classifications in the University’s financial system (PeopleSoft) include:
- Account class 5252 - Lease Alleasing
- Account class 5290 - Equipment Purchase <$1,000
- Account class 5302 - Equipment $1,000 - $9,999 and Computer Equipment under $1,000
- Account class 5344 - Software <$10,000 and Annual Licence
- Account class 5350 to 5370 - Asset Additions $10,000 and over
Refer to the Chart of Accounts for details.