About Equipment Inventory
Northwestern University maintains its equipment inventory to track capital equipment that costs $5,000 and over and has a useful life of at least one year. The inventory includes capital equipment in many of NU's buildings as well as some off-site locations. The Equipment Inventory Coordinator handles the day-to-day responsibilities of the inventory including updating the inventory database, tagging new capital equipment, reinventorying old capital equipment, and training departments to set-up their own non-capital equipment inventories to track equipment that costs under $5,000.
- NEW – Capital Equipment Purchase Form – The purpose of this form is to provide information to Accounting Services for capitalization, tagging, and asset tracking of purchases that meet capital equipment criteria (definition - cost meets or exceeds $5,000 and has a useful life of one year or more). Please note that if you are scrapping or trading-in already existing capital equipment, you must adhere to the capital equipment policies and procedures found on the Equipment Inventory website: http://www.northwestern.edu/equipment-inventory/index.html.
- NEW – Capital Equipment Retirement Approval Form – The purpose of this form is to provide the appropriate level of department approval to Accounting Services for the disposal of capital equipment. Additional information regarding the policies and procedures for disposing of capital equipment can be found at: http://www.northwestern.edu/equipment-inventory/index.html.