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Acquisitions

• How do I add an acquisition with a prior year date to an existing item?
  • If an acquisition needs to be added to an existing item, click on 'create' on the Transactions>Acquisitions grid to add the acquisition. The date must be in an open period. If the item is currently capitalized, check the error correction box in order to include the acquisition amount to the adjustments column instead of the acquisition column on the GAAP schedule of change reports.
• Why can't I edit the fund, function or asset class on an existing acquisition transaction.
  • Those fields are coming from the item record and cannot be modified on the acquisition transaction.  If on GAAP and you need to change the fund, function or asset class, you must create a transfer transaction. 
• Can I edit an acquisition with an acquisition date in a closed period.
  • If in an archived period or prefer not to re-open a closed period, you can't edit the acquisition. 
• Can I delete an acquisition I created in the same period?
  • Yes, if the period is open, you can delete the acquisition.  Otherwise, you are restricted in closed or archived periods. NOTE: If an acquisition is deleted and the existing Item is still on file, capitalized assets without a corresponding acquisition will fall under the "Acquisitions Prior to System Startup" on the GAAP Schedule by Source. Posting historical acquisitions for these items will put them into the correct source fund.
• Why would I need to check the error adjustment?
  • If the acquisition is for a capitalized assets and was supposed to be created in a prior year (and the prior year is archived or you prefer not to re-open it), you can add the acquisition in the current year and by checking the error adjustment, the acquisition amount of the asset will included in the adjustment column on the GAAP Schedule of Change reports.

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