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Capital Asset Procurement in AggieBuy

Capital Assets are items that have an acquisition value of $5,000 or higher (including tax and shipping/handling), a useful life of one year or longer, and are free-standing.

When creating a requisition with an item that meets the capital asset definition, the "capital asset" status is applied to ALL items on the requisition, even if those items are not capital assets. Because of this you should only include items on that specific requisition that compose (or are otherwise part of) the Capital Asset and create a separate requisition for other non-related items. 

Contents

  1. Restrictions on Purchasing Capital Assets
  2. When is the Capital Asset(s) Section Required?
  3. Capital Asset System Type and Equipment Type
  4. What to do if there are additional line items that compose the Capital Asset
  5. Additional FAQs

Restrictions on Purchasing Capital Assets

Capital assets are not to be purchased with accounts assigned to the following Sub Fund Group Codes:

  • OSSSO: OTHER SERVICES - OTHER RATE BASED ACTIVITIES
  • SERENT: SERVICE ENTERPRISES
  • SSEDAC: SALES AND SERVICE OF EDUCATIONAL ACTIVITY
  • SSTHOS: SALES AND SERVICE OF TEACHING HOSPITAL

When is the Capital Asset(s) Section Required?

When purchasing capital assets, the Capital Asset(s) section of the AggieBuy shopping cart must be completed by the Window Shopper, Requester, or Fiscal Officer/Delegate. If it is required and not completed by one of these individuals, the system will automatically return it to the Requester. The information in this section is used by the Capital Asset Accounting staff to properly record the asset in the Kuali Financial System. 

In order to complete the Capital Asset(s) information, click on the Edit link in the upper right corner of the Capital Asset(s) section.  By default, the information in the Capital Asset(s) section applies to ALL items on the requisition.

If the requisition includes additional line items for additional standalone assets, or a different equipment type (component, add-on, etc.), you should complete the Capital Asset(s) section separately for those items.

NOTE: In addition to completing the Capital Asset(s) section for all items meeting the Capital Asset definition above, it is also required for purchases of fixed assets that are over $35K. Fixed assets are those that meet the definition above, EXCEPT they are not free-standing and are a permanent part of a building, such as a plumbing or ventilation system.  This type of purchase in AggieBuy is generally quite rare.

Capital Assets screen

Field Required Description
Capital Asset System Type Y Identifies whether the purchase is:
  • An item to Modify an Existing Capital Asset (add-on or fabrication part)
  • A brand-new Capital Asset
  • A New System (Multiple line items on the AggieBuy order compose a Single Capital Asset)
UCOP Tag# N Identifies the UCOP Tag # assigned to the Capital Asset for which the purchased item will be added to or the asset that is being fabricated by the department. This field is only to be filled in if the Modify Existing Capital Asset System type was selected (for add-ons or fabrications).  It should NOT be filled in otherwise.
Asset Manufacturer Y The name of the company that makes the item.
Asset Model Number Y The model number assigned to the item.
Asset Custodial Code Y Click on Select from all values to locate and return the Custodial Code to the screen.  If you know the 4-digit code, you can enter it in the Value field and click the Search button; if you don't know it, enter part of the department name in the Description field, and then click the Search button. Once you find the result you want, click on the select link to return it to the Capital Asset(s) screen.
Asset Building & Room Number Y

Click on Select from all values to locate and return the building and room code to the screen.  If you know the 4-digit code, you can enter it in the Value field and click the Search button; if you don't know it, enter part of the building name in the Description field, and then click the Search button. Once you find the building and room combination you want, click on the select link to return it to the Capital Asset(s) screen.

NOTE: If purchasing capital assets for a non-UCD building, enter SPCL-0001 in the Asset Building & Room Number field.

UC Acquisition Type Code Y Select the method that identifies how the Capital Asset is being acquired by the university and whether the university will maintain ownership if the purchase is assigned to a contract and grant fund.

In addition to each of the fields listed above, the Equipment Type field is also required.  Select the most appropriate option from the drop-down menu:

Add On Over 5K Select this option if the purchased item is over $5K (including tax) and will be an integral part of an existing Capital Asset in your department. Be sure that the Modify Existing Capital Asset System type is selected  and the UCOP Tag # field is completed with the number of the existing asset.
Component This option should ONLY be selected if there are multiple line items on the Requisition that compose a single Capital Asset. Be sure that the Capital Asset System Type field is selected as New System. NOTE: If selecting this option, be sure that all items marked as a component are all being purchased from the same supplier.
Fabrication This option is to be used if the purchased item is part of a Capital Asset Fabrication. Be sure that the Modify Existing Capital Asset System type is selected  and the UCOP Tag # field is completed with the number of the existing asset.
Fixed Asset If the purchased item will be permanently affixed to a building and the total cost (including installation) is over $35k, this option should be selected. For fixed assets, a UCOP Tag # will not be assigned.
Repair/Replacement Select this option if the item is a repair or replacement part for an existing Capital Asset. Be sure that the UCOP Tag # field is completed with the number of the existing asset for which the repair or replacement item is being purchased/installed.
Standalone Select this option if the item will not be a component, add-on, or fabrication, will not be permanently affixed to a building, and is not a repair or replacement part. Selecting this option will generate a new unique UCOP Tag # in the Kuali Financial System (KFS) for the item.

Capital Asset System Type and Equipment Type

The chart below identifies what to select for the Capital Asset System Type and the Equipment Type fields:
View as a PDF

Cap Asset System Type and Equipment Type


What to do if there are additional line items that compose the Capital Asset

After completing the Capital Asset(s) section for the Capital Asset, click on the Edit button for the specific line item(s) that are additional standalone assets, or a different equipment type (component, add-on, etc.) and complete the Capital Asset(s) section for those additional items:

Capital Asset Edit for Individual Line Items


  • What Else Do I Need to Know About Capital Asset Procurement in AggieBuy?
  • The receipt of Capital Assets must be recorded on the Line Item Receiving document in the Kuali Financial System (KFS).   Although there is a receipt functionality available in AggieBuy, the Line Item Receiving document is required to record the received date in KFS and to initiate the depreciation process.
  • Can I Complete the Capital Asset(s) Section in AggieBuy for Tracking Items Under the Capital Asset Threshold?
  • No, the Capital Asset(s) section in AggieBuy should ONLY be completed for those items that meet the Capital Asset dollar threshold or for those items that are otherwise part of a Capital Asset, such as an Add-On to a Capital Asset or part of a Capital Asset Fabrication. If you wish to track items below the Capital Asset threshold, you should complete the Asset Global (Add) document in KFS.
  • What about Capital Asset Trade-Ins?
  • Trade-Ins cannot be accommodated in AggieBuy at this time. Please process a requisition in KFS if your capital asset purchase includes the trade-in of existing capital assets or supplies.