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Donated assets should be disclosed to University Advancement Services. Advancement will communicate the need to add the asset to the Fixed Asset Register on an annual basis. Finance will reach out with additional information on how to tag your asset during year end procedures.
Tagging an asset
Each month, when the GL Accounting team prepares the reclass journal entry to move the expensed invoice balance to the appropriate fixed asset account, the requestor from the RFP will receive an email from General Ledger to affix a physical tag to the asset to be tracked centrally on the fixed asset schedule maintained by the GL Accounting team.
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