Leases and Rentals spend category update

Name and usage changes for the following existing leases and rentals spend categories:

Removing “Leases and” from the name

  • Rentals Document Storage (SC51900)
  • Rentals Equipment (SC51950)
  • Rentals Other (SC52000)
  • Rentals Property (SC52050)

These spend categories should only be used for non-lease transactions.  To be in compliance with the new FASB lease accounting guidelines, effective July 1, 2019 for the University of Rochester, please contact UR Real Estate Office for space or UR Treasury for equipment if you have any lease transactions.  Please refer to the UR Financials Chart of Account Spend and Revenue Category Definitions that will guide you how the above rentals spend categories should be utilized.