Capital Equipment
OVERVIEW
Capital Equipment, in its simplest form, is any asset with BOTH:
-
Total acquisition costs of $5,000 or more
-
A useful life of at least 1 year
Capital Equipment differs from equipment under $5,000 because Capital Expenditures are depreciated every year so that Harvard has a more accurate record of its total assets. Most Capital Equipment ordered in labs will fall into the scientific depreciation category of having a useful life of 8 years.
In order to help SEAS comply with all University and external requirements regarding the tracking of capital equipment, all equipment over $5,000 needs to have a tag number associated with it.
There are two main types of Capital Equipment; Capital Assets (such as a Microscope) and Fabrications (such as an optical set-up consisting of many components). For more information about Capital Equipment, please see the University's Financial Management of Property, Plant and Equipment Policy.
Capital Equipment Object Codes
The following are object codes that are used when a capital asset/fabrication is purchased. The majority of the time, object codes 6811-6814 will be used because they correspond with direct costs to a non-sponsored or sponsored project.
| Object Codes | Descriptions |
|---|---|
| 6800 | Equipment, Furn+Fixtures >= $5,000 (Non-Consolidating Tubs Only) |
| 6801 | Noncomputer Equip. Non-Sponsored^Equip >= $5,000 |
| 6802 | Noncomputer Equip. Sponsored^Equip >= $5,000 |
| 6803 | Computer, Non-Sponsored^Equip >= $5,000 |
| 6804 | Computer, Sponsored^Equip >= $5,000 |
| 6805 | Residential Furn+Fixtures, Non-Sponsored^Equip >= $5,000 |
| 6806 | Residential Furn+Fixtures, Sponsored^Equip >= $5,000 |
| 6807 | Office Furn+Fixtures, Non-Sponsored^Equip >= $5,000 |
| 6808 | Office Furn+Fixtures, Sponsored^Equip >= $5,000 |
| 6809 | Vehicle, Non-Sponsored^Equip >= $5,000 |
| 6810 | Vehicle, Sponsored^Equip >= $5,000 |
| 6811 | Non-Sponsored Work In Progress^Equip >= $5,000 |
| 6812 | Sponsored Work In Progress^Equip >= $5,000 |
| 6813 | Scientific Equipment, Non-Sponsored^Equip >= 5,000 |
| 6814 | Scientific Equipment, Sponsored^Equip >= $5,000 |
| 6815 | Software, Non-Sponsored^Equip >= $5,000 |
| 6816 | Software, Sponsored^Equip >= $5,000 |
FORMS & FAQs
Please refer to FAS's "Capital Equipment in the Sciences" website: sciequip.fas.harvard.edu
If you have any additional questions, please contact: tloftus@seas.harvard.edu