Asset account classifications

Specific account classifications need to be used when acquiring assets. Asset account classifications in the University’s financial system (PeopleSoft) include:

Account class 5252 - for leased assets
Account class 5290 - for items < $1000
Account class 530X - for items ≥ $1000 < $5000
Account class 535X - for items ≥ $5000
Account class 536X - for items ≥ $5000

Refer to the Chart of Accounts for details.