Equipment and Asset Trade-In Credit

All quotes that will involve a trade-in of equipment requires a separate line detailing the amount offered for the trade-in. Additional discounts offered must not be combined with the trade in amount offered. Also see the Dartmouth Disposal Policy for required instructions and forms for trade-in completion.

Equipment and Assets over $25K (each piece)

Department/Finance Center/Procurement/ Accounts Payable

  1. Requisition reflects full value of asset (before trade-in reduction)(NC 1700)
  2. Vendor invoice for full value of asset (before trade-in reduction) (NC 1700)
  3. Vendor issues credit memo for value of trade-in (NC 1700 must track as asset so this flows
    into ‘tank’)

Fixed Asset Accountant

  1. New asset brought into fixed asset system at full value
  2. Credit memo “add to asset” that was traded in (will credit department when fixed asset
    reconciliation and charge department process completed – monthly)
  3. Retire asset that was traded in
Contact Materials.Management@dartmouth.edu for additional guidance.

Equipment and Assets between $5k-$24.99k (each piece)

Department/Finance Center/Procurement/ Accounts Payable

  1. Requisition reflects full value of asset (before trade-in reduction)(NC 71xx)
  2. Vendor invoice for full value of asset (before trade-in reduction) (NC 71xx)
  3. Vendor issues credit memo for value of trade-in (NC 71xx track as asset so this flows into ‘tank’)

Fixed Asset Accountant

  1. New asset brought into fixed asset system at full value
  2. Credit memo “add to asset” that was traded
  3. Retire asset that was traded in
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