New Combo Edit Rule to Validate Sponsored Funds Capital Equipment Purchases

Effective October 2018, a combo edit rule has been established in BearBuy and PeopleSoft to validate the recording of capital equipment purchases made with sponsored funds. This rule helps to ensure accurate financial reporting and the full and appropriate recovery of Facilities & Administrative (F&A) costs for these purchases.

Capital equipment is defined as equipment (including computer equipment) having a value of $5,000 or more, and software with a per-copy cost of $5,000 or more, where the normal life expectancy for the equipment is more than one year. Specific accounts exist to record purchases of capital equipment with sponsored and non-sponsored funds. The new combo edit rule will check to ensure that valid sponsored fund and capital equipment account combinations are used.

Consult the following to determine which set of accounts to use when recording capital equipment purchases with sponsored and with non-sponsored funds:

Capital equipment purchases made with sponsored funds

Capital equipment category

Account for use with sponsored funds

Equipment (non-computer)

51321 - Spon proj equip >$5K, non-comp

Computers

51322 - Spon proj computer >$5K

Software

51323 - Spon proj software >$5K

The combo edit rule is in effect for the following sponsored fund values:

  • 1810 - State special grants fund
  • 4000 - Federal Gv Grant
  • 4001 - Federal Gv Contract
  • 4002 - Federal Gv Coop Agreement
  • 4003 - Federal Gv Grant, ARRA
  • 4004 - Federal Gv Contract, ARRA
  • 4005 - Federal Appropriations-ARRA
  • 4006 - Federal Work Study
  • 4100 - State Gv Contract, Grant, Coop
  • 4200 - Local Gv Contract, Grant, Coop
  • 4300 - Private Grant
  • 4301 - Private Contract
  • 4900 - Cost Sharing
Capital equipment purchases made with non-sponsored funds

Capital equipment category

Account for use with non-sponsored funds

Equipment (non-computer)

52603 - Equipmt $5K and above, non comp

Computers

52601 - Computers $5K and above

Software

52602 - Software $5K and above

Special procedures must be followed when buying capital equipment and to manage and control the equipment over the lifetime of the capital asset. Contact Capital Equipment & Accounting for support related to buying capital equipment and capital asset management.

Did you know that the purchase of research equipment may be eligible for a Partial Sales and Use Tax exemption? Learn more about eligibility and procedures.