Account codes are used to classify expenditures and revenues into proper categories. It is through this classification the university analyzes expenditures for such purposes as indirect costs rate analyses, equipment matching support, annual financial statement production, and departmental budget analyses. It is important that the proper account code be used when transactions are first entered in the accounting system.
Equipment Priced Less than $2,000
The account codes for equipment costing less than $2,000 per item are located under Non-Personnel Services Expenditure Account Codes at the end of the 13000 account codes and before the 14000 account codes. They are located in the “supplies” section of the accounts because they are deducted from the supplies budgets and not the equipment budgets in Banner. The 22XX5 equipment account codes are necessary because the State Comptroller’s Office requires that we report all equipment, regardless of cost, in equipment account codes in the state’s accounting system.
Equipment Priced at or Above $2,000
Equipment account codes (22XX0) include expenditures for educational, cultural, electronic, photographic, medical, laboratory, motorized, office, specific use, and stationary equipment costing $2,000 or more.