OSU PRO 301: Receiving Equipment

Purpose

To properly receive and record equipment to protect the University against loss.

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Policy

The receiving department is responsible for receiving and inspecting newly acquired equipment, regardless of the method of acquisition.   Inspection should occur prior to processing the invoice.

Assets Purchased through Banner FIS
All assets purchased through the Banner FIS system have a record generated automatically and results in an inventory bar code tag being sent to the owning department. 

Assets Received Through Other Means
Assets received through other means (loans, government-furnished, leases, etc.) must be added to inventory via a Fixed Asset Data Entry (FADE) form. FADE forms (pdf format) are available at the Inventory Control website.  See PRO-Ex3 for an example of a FADE form. 

Adding to Inventory
All capital assets must be added to inventory within 60 days of receipt.  Any asset stolen or damaged after the 60-day window may not be covered by Risk Management.

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Procedure

Responsible Party

Action

Receiving Department

Prior to signing any documentation to accept a shipment, ensure that the package(s) has not been damaged.  The shipment should be refused if damage is apparent. Verify contents against Bills of Lading, Purchase Orders or other receiving documents to assure that the order is complete.  If overages, shortages, or damages are discovered, the vendor or shipper should be contacted immediately.  Packing slips, bills of lading & other documents should be submitted to the department's accounting office and archived with the purchase order/invoice. Test equipment to make sure that it functions properly within the allotted warranty period. For reporting requirements for Federal Sponsored Grants and Contracts, see PRO 902-02: Principal Investigator Responsibilities - Ordering, Receiving & Tagging.

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Cross Reference

See PRO 304: Insurance for information on interim period.

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Additional Information

See Campus Freight website for information relating to shipping and receiving packages.

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