Capitalized Asset Management

Capitalized Asset Definition and Threshold

Any property, furniture, equipment, or software that equals or exceeds a per unit cost or gift value of $5,000 and has a useful life of more than one year is considered a capitalized asset. The unit cost of an item is everything paid in order to receive the item and to place it in service. This includes shipping, handling and installation costs. It must also be for use in the operations of the University (i.e. , the item is not purchased as an investment or held for resale). This is an increase from the previous threshold of $2,500.

Accounts to Use for Capitalized Items

• 58415 - Capitalized Housing Furniture 
• 58417 - Capitalized Furniture (Non-Housing)
• 58516 - Capitalized Vehicles
• 58522 - GW Owned Capitalized Fabrication Equipment
• 58523 - Non-GW Owned Capitalized Fabrication Equipment
• 58524 - Capitalized Computer Equipment & Software
• 58525 - Capitalized Shop Equipment
• 58535 - Capitalized Copiers and Other Office Equipment 
• 58536 - Capitalized Laboratory & Instructional Equipment Expense
• 58542 - Capitalized Athletic Equipment Expense 

Accounts to Use for Non-Capitalized Items

• 52191 - Non-Capitalized Instructional & Lab Furniture & Equipment
• 52192 - Non-Capitalized Medical Furniture & Equipment
• 52193 - Non-Capitalized Computing Equipment
• 52194 - Non-Capitalized Housing Furniture & Equipment
• 52195 - Other Non-Capitalized Furniture & Equipment 
• 52196 - Non-Capitalized Office Furniture & Equipment
• 52199 - Non-Capitalized Computer Software