Overview

Earned Credit Equipment results from in-store credit, or any similar type of credit based on accumulated spend.  An equipment item acquired through earned credit is considered equipment if it meets the equipment definition (value greater than $5,000 and a life expectancy of more than one year).

It is the department's responsiblity to notify EIO of these types of acquisitions.  Departments are responsible for approximating the fair market value of the item at the time of receipt.  If the fair market value is $5,000 or more and the life expectancy is more than one year, then the earned credit equipment must be tagged and inventoried.


Procedure

  • Department receives equipment through earned credit.
  • Department determines the fair market value of the equipment.

Within 3-7 days after receipt (unless prior arrangements are made with EIO), department tags asset and enters it into OASIS as a "T" status asset.  The item should be treated the same as a newly purchased piece of equipment.  Please see this page for details on the tagging process. For the Requisition Number, use '0000000'. For the Acquisition Method, use 'GF' for Gift.

Equipment Inventory reviews the OASIS entry for complete information and approves the asset.


Forms

Optional - UW Equipment Information Form