On sponsored accounts, equipment is typically charged as a cash purchase. How will equipment purchases and depreciation be reported for sponsored accounts?
Assets purchased with sponsored funds follow the same processes as those purchased with non-sponsored funds, with two additional components; the original purchase of the asset also generates a billable and reportable transaction in the Project Resource table for SFR to include on an invoice/report and the deprecation will not hit on the sponsored project.
Related Questions
- On sponsored accounts, equipment is typically charged as a cash purchase. How will equipment purchases and depreciation be reported for sponsored accounts?
- Why does the Equipment Management Department need to approve requisitions over $5000 on Sponsored accounts?
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