***Attention Suppliers: Fraudulent Email Activity!!! Updated 3/02/2015. Click here for details.***

Purchase to Payment Process

Receiving > Asset Management

Receiving Assets
In accordance with the Controller’s Office, Asset Management Policy #4.21 (PDF), all purchase orders for capitalized assets must be routed directly to Central Receiving, if the purchase meets the parameters for central receipt.

The value of OSU’s capitalized equipment is reported each year on the University’s Balance Sheet. Accurate tracking of assets has a profound impact on our negotiation of the federal indirect cost recovery rate. It is essential to be able to prove to federal auditors that we have the equipment and that we know its location. In accordance with the University’s Asset Management Policy #4.21, Purchasing and Receiving implemented the following business practices for processing purchase orders and receiving capitalized assets.

1. All UNIV and Research Foundation capital equipment should be sent to Central Receiving (building code 381) for tagging and delivery. See policy scope and parameter restrictions at Asset Management.

2. Requisitions received in the Purchasing Department that do not direct capitalized equipment to Central Receiving (building 381) will be changed by the buyer prior to issuance of the purchase order.

3. Items too large for Central Receiving to deliver (after tagging) will be delivered by a specialty mover, with the costs charged back to the chartfield of the equipment ordered.

It is also necessary to document the all asset information on orders. Please be sure to include these critical elements to your order:
• Use the appropriate expense account (653XX) in the distribution section of the order.

• Add the appropriate Asset Management business unit (AM Unit) and profile ID to the Asset Information tab.

• Insert a standard comment (Std Type = POA or Purchase Order Asset, Comment Id = bundled or unbundled) for EVERY asset included in the order.

• Specify the order line number or line numbers for bundled equipment for each standard comment so Asset Management understands how many tag numbers to create.

• Complete ALL of the information requested in the standard comment, including custodian contact information and final location of the equipment.

Click the “Shown at Receipt” box in the Header Comments to allow Central Receiving access to your comments.