Get A8.635 Installment Contracts - Recording Assets And Liabilities - Hawaii

Filling out the A8.635 Installment Contracts - Recording Assets And Liabilities - Hawaii form is essential for accurately recording equipment and liabilities within the university's financial management system. This guide provides you with step-by-step instructions to ensure all necessary fields are completed correctly, facilitating a smooth online submission process.

Follow the steps to fill out the form effectively.

1. Click 'Get Form' button to access the A8.635 form and open it in your preferred online editor.
2. Identify the purpose of the form as it pertains to the recording of assets and liabilities resulting from installment contracts. Familiarize yourself with the definitions provided, including terms like 'installment contract,' 'equipment,' 'liability,' and 'fund equity.'
3. Begin by filling in the contract number and account code in the designated fields. Ensure that the contract date and installation date are accurately recorded.
4. Provide information on the vendor name and payee name clearly. Include a description of the asset, including model and serial numbers.
5. Utilize the 'Worksheet of Asset Value and Contract Payable Computations for Equipment Purchased on Installment' to compute the total asset value, down payment, trade-in allowance, and finance charges. Input these calculations into the corresponding fields.
6. Record the installment payment schedule by fiscal year. Accurately fill out each field for total payments, finance charges, and principal applied as per the guidelines.
7. Attach supporting documents such as the worksheet and installment contract details directly into the online form where required.
8. Review all entered information for accuracy and completeness, ensuring that fields are not left incomplete.
9. Once satisfied with the information provided, save your changes. You can then choose to download, print, or share the form as necessary.

Start completing your A8.635 form online to ensure smooth recording of your assets and liabilities today.