What determines the classification of equipment as capital or non-capital during the transition between FY06 and FY07: the date of the purchase order; the date of receipt; or the date of the payment?
The date the equipment is received (Invoice ship date) will determine its classification as capital or non-capital. Non-capital object codes should be used if the supplier gives a promised delivery date of July 1, 2006 or later. If the delivery promise is June 30, 2006 or sooner, a capital object code should be used. Property Accounting Services (PAS) will review all invoices charged to a capital object code after June 30, 2006. If a purchase order was originally charged to a capital object code and the invoice ship date is after June 30, 2006, PAS will submit an Accounts Payable Re-Distribution form to move the charge to an appropriate object code. For questions about this section, please contact Gary Hayden, ghayden@andrew.cmu.edu, x 8.6248.
