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Acquisitions is primarily used to post additional acquisition transactions for existing items. It is located under Transactions>Acquisitions. It may be necessary to post transactions for existing items in instances such as the following:

• an item has been improved, adding to the value of the original cost
• to record historical acquisition information (there may be items on the inventory that do not have an acquisition record)
• to record a lease payment or other periodic payment
• to correct an error from a prior fiscal year

The information entered and stored on the acquisition records is primarily the purchase order information about the item. Acquisition transactions are created automatically when adding a new item via Transactions>Items. They may also be posted directly created in Transactions> Acquisitions for items already recorded on inventory in order to update the item (as bulleted below). Posting an acquisition transaction for a new item is optional if the GAAP flag is unchecked. However, it is recommended to always post an acquisition for each item added to the inventory. If the GAAP flag is checked, an acquisition transaction must be posted. This is necessary in tracking the acquisition dollar amounts reported on the Schedule of Change in Fixed Assets report.

• an item has been improved, adding to the value of the original cost
• to record historical acquisition information (there may be items on the inventory that do not have an acquisition record)
• to record a lease payment or other periodic payment
• to correct an error from a prior fiscal year

Create an Acquisition

1. From the Transaction Transactions menu, select "Acquisitions" to display the Acquisition grid.
2. Click 
3. If the information is included on the pending file, use the 'pending item' drop-down box to pull the acquisition information in.  You may also enter the acquisition information manually.
   1. If pulling the information from the pending file, it will populate many of the fields on this screen.  Enter a tag number and modify any necessary information. TIP: Once the acquisition is posted, the data will be automatically removed from pending items.
   2. If manually entering the acquisition information, please enter the desired information.
      1. Tag Number: Must match an existing tag on file
      2. Type is the code for the "type" of acquisition record. This may be Acquisition (default) or Payment. Type 'Acquisition' affects the GAAP schedules if the item is capitalized. Type 'Payment' is used to record payments and does not affect the GAAP schedules.
      3. Date is the date the item was acquired. The date must be in an open period.
      4. Count is the number of acquisitions entered for a single item on the same day. Acquisition transactions for an item are stored in increasing order by date. FB issue?
      5. Account Code is the USAS source account to which the item was charged. If entering the account code manually, please ensure you enter the complete code with hyphens between dimensions.
      6. Vendor Number is the USAS vendor number from which the item was purchased.
      7. Vendor Name will be auto populated when the vendor number is entered.
      8. PO Date is the date of the USAS purchase order.
      9. Amount is the dollar amount expended for the item.
      10. Update Original Cost should be checked if the original cost of the item needs to be updated by the amount of the acquisition. If entering an acquisition transaction for historical purposes, the flag would be left unchecked because the amount is already a part of the original cost stored on the item. This only affects acquisitions with a type = Acquisition.  If your GAAP flag is checked, any capitalized assets increase will be reflected in the "acquisitions" column of the Schedule of Changes in Fixed Assets Report.
      11. PO# is the USAS purchase order number used to purchase the item.
      12. Grant ID is the CFDA (Catalog of Federal Domestic Assistance) number as found on the grant papers or a user supplied code to identify federal, state, or other grants.
      13. Fund is the item's fund code stored on the associated item.  This will be displayed once the acquisition is posted.
      14. Item # is the item number from the USAS purchase order.
      15. Grant Year is the project year for the associated grant code.
      16. Function is the item's function code stored on the associated item.  This will be displayed once the acquisition is posted.
      17. Check # is the USAS check number used in purchasing the item.
      18. Error Correction may be checked if the transaction is an adjustment for an error made in a prior fiscal year.
      19. Asset Class is the item's class code stored on the associated item. This will be displayed once the acquisition is posted.
4. Click on to add the acquisition.   Click on to cancel out without saving changes.

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