Fixed Assets Project

The Oracle fixed asset module will be implemented in Central Accounting in March/April 2020

  • As such, new capital natural accounts for moveable equipment will be required when purchasing moveable equipment that meet the capitalization criteria.
  • Moveable Equipment that will be capitalized, and therefore must be coded to the new accounts, are new items purchased or additions to existing assets that have a life of more than 12 months and cost 5,000 or more and are Rutgers owned.
  • The new capital natural accounts for moveable equipment are now available for use in the system.  They must be used for the FY21 budget and for actuals starting on 7/1/2020.

The process for moveable equipment and software will be as follows:

  • Units purchase items charging to one of the capital natural accounts between 67041-67050.
  • Plant Funds, upon review, if capitalizable, will add the asset to the new fixed asset system.
  • If not capitalizable, Plant Funds will ask the Units to move the expense to an appropriate account.

There will be webinars and further communications in February.

To learn more about this project, please refer to the updates from our offices, and the resources on this page.