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Wilfrid Laurier University Office of the Vice-President:  Finance  and  Administration
August 21, 2014
 
 
Canadian Excellence

Capital Assets



Capital assets such as furniture, computers, and other equipment are identified at the time invoices are processed for payment, by the Account Code in the FOAPAL accounting distribution string.

There are five capital Account Codes which will flag a purchase for bar-coding. When signing an invoice for any purchase of furniture or equipment, you must use one of the following Account Codes:

720-790 - General Equipment and Furniture - Teaching
720-791 - General Equipment and Furniture - Non-teaching
720-792 - General Equipment and Furniture - Audio Visual
720-798 - Computing Purchases - Teaching
720-799 - Computing Purchases - Non-teaching

A purchase order is required for each new purchase of capital equipment or furniture. Please do not use any of the above Account Codes on invoices related to Blanket Orders. Capital assets cannot be purchased on a Blanket Order. Also, please do not use the above Account Codes for processing lease or rental charges.

Please note that not all furniture or equipment purchased will be bar-coded. The cost of the item purchased, as well as the nature of the item, will determine whether bar-coding will take place.

A representative from the Asset Management department will contact the appropriate person in each department to make arrangements for having equipment and furniture bar-coded. Please direct all questions about Capital Assets or the bar-coding procedure to Wally Pirker at ext. 2036.