Capital Assets

Object codes

Asset records are created by the Capital Asset Management (CAM) team in KFS; however, it starts with the department’s submission of a purchase requisition. Capital assets are identified and created by the object codes assigned on the initial purchase requisition in KFS.

Infographic detailing the five stages of the capital asset lifecycle. Requisition submitted by department using capital asset object codes. PO issued by Procurement, including vendor selection. Invoice paid by Accounts Payable via PREQ. CAM receives PREQ document and creates the asset record. Ownership is granted to the department, who manages the asset until transfer or retirement.

Once the purchased asset is received by the department and Accounts Payable issues the vendor payment, the PREQ eDoc is routed to CAM. CAM then verifies the purchase qualifies as a capital asset and either creates a new asset record or applies the payment to an existing asset record.

Object Code Definition or use case Status
6492 Non-federally funded, MSU-owned asset New purchase
6497 Federally funded, MSU-owned asset New purchase
6494 Non-federally funded, MSU-owned fabricated asset Under fabrication
6493 Federally funded, MSU-owned fabricated asset Under fabrication
6498 Federally-owned asset, title is with non-MSU entity Loaned asset
6499 Agency-owned asset, title is with non-MSU entity Loaned asset
6500 Fabrication, federally-owned asset Under fabrication