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Business and Financial Policies and Procedures

12.1.4 Enter Account Codes when Purchasing Equipment

Policy Statement

All equipment records in Banner must have an equipment account code that reflects the equipment classification. Banner Fixed Assets uses the account code to create a skeletal equipment record that can be accessed and updated in FABweb.


To enter account codes when purchasing equipment:

The code and the code range reflect the type and cost of the equipment. If the account code does not match the cost of the item you will have to submit a Journal Voucher to correct the entry. If the equipment account code is incorrect, you may have difficulties processing a new acquisition in FABweb, conducting the biennial inventory for your unit, or responding to auditors' questions.
Select an account code based on the total cost/value of the item, which includes such costs as design and fabrication costs, freight, installation, and transit insurance. If the vendor gave you a trade-in, calculate the total value of the item as the cash spent plus the amount of the trade-in allowance.
  1. Determine the correct account code to use. Consult Equipment Account Codes to determine the correct code for your equipment.
  2. Enter the correct account code in the FOAPAL string when you purchase equipment using:
    • Banner Requisition
    • P-Card
    • IBuy
    • Journal Voucher
    • Chrome River

Related Policies and Procedures

12.1.2 Classify Equipment and Property

Additional Resources

Equipment Account Codes
Banner Account Codes

Last Updated: March 10, 2023 | Approved: Senior Associate Vice President for Business and Finance | Effective: June 2011

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