Frequently Asked Questions

 

Assets & Pool Accounts


What is a pool account?

A pool account is an account that consolidates the funding from separate accounts for NSF checking purposes.  This ensures that requisitions will not go NSF because a purchase was moved to a different account.

Top

What accounts are included in the pool accounts?

There are currently two pool accounts related to asset purchases; 7910 for Non-Capital and Capital Expenditures and 7911 for Non-Capital and Capital Medical Expenditures.

Top

Why is my furniture requisition for $350 NSF when I have $1,050 in the account?

The NSF error could be caused by either pending documents or a negative balance in the pool account 7910.

  • Make sure no pending documents are reserving funds.
  • Verifty pool account balance has enough funding.
    • Either add balances of all pool accounts
      732003 (1,227.57)
      791011 1,050.00
      791012 500.00
      7910 Total 322.43
  • Or query the pool account balance using FGIBAVL in Banner INB

Top

Why are my purchases being coded to Small Equipment and Furnishings (732003) if I requisition using a different account?

Finance will amend the account code on assets that do not meet capitalization criteria. For instance, you may purchase a bookshelf for $350 but Accounting does not need to add that bookshelf to the depreciation schedule so it will be moved to an account that does not tag the asset as a capital purchase.

Top

Why can’t I adjust the account code myself?

The asset account codes route requisitions through any necessary conditional approvals.  When the account is adjusted during the requisition process it will bypass necessary approvals which will result in the requisition being cancelled.

Top

Do I need to transfer funds to 732003 to clear the NSF?

No, it is not necessary to transfer funding to 732003 if it is already budgeted within the pool account.

Top

How do I know where to budget asset purchases?

All purchases should be budgeted in the appropriate asset account (where the requisition will be submitted). Asset purchases that have the potential to be moved by Finance have been grouped into pool accounts. 

Top

Why isn’t the pool account visible in all budget queries?

The Budget Availability Query (FGIBAVL) is the only query that contains the table used by Banner for NSF checking. Since pool accounts are only used during the NSF checking process they are only visible in FGIBAVL.

Top

Why do I need a location code on asset purchases?

The location code identifies where on campus an asset is located and is a required field in the Fixed Asset system used by Accounting to manage capital assets. 

Top