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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 in Acquisitions for items already recorded on inventory. 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.

Create an Acquisition

  1. From the Transaction menu, select "Acquisitions" to display the Acquisition grid.
  2. Click 
  3. You may enter the acquisition information manually or if the information is included on the pending file, use the 'pending item' drop-down box to select the acquisition information currently stored in pending.
    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.  The tag number must match an existing tag on file.
      1. Type is the code for the "type" of acquisition record. This may be Acquisition (default) or Payment. Type 'Acquistion' affects the GAAP schedules if the item is capitalized. Type 'Payment' is used to record payments and does not affect the GAAP schedules.
      2. Date is the date the item was acquired. The date must be in an open period.
      3. 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.
      4. Account Code is the USAS source account to which the item was charged.
      5. Vendor Number is the USAS vendor number from which the item was purchased.
      6. Vendor Name will be auto populated when the vendor number is entered.
      7. PO Date is the date of the USAS purchase order.
      8. Amount is the dollar amount expended for the item.
      9. Update Original Cost is 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 set to "N" because the amount is already a part of the original cost entered on the inventory. This only affects acquisitions with a type = A.
      10. PO# is the USAS purchase order number used to purchase the item.
      11. 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.
      12. Fund is the item's fund code stored on the associated item.
      13. Item # is the item number from the USAS purchase order.
      14. Grant Year is the project year for the associated grant code.
      15. Function is the item's function code stored on the associated item
      16. Check # is the USAS check number used in purchasing the item.
      17. Error Correction may be checked if the transaction is an adjustment for an error made in a prior fiscal year.
      18. Asset Class is the item's class code stored on the associated item
  4. Click on to add the acquisition.   Click on to cancel out without saving changes.

NOTE: By checking the update the original cost field, the original cost on the corresponding item record will be increased by the amount of the acquisition transaction. 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.

Search/View an Acquisition

The Acquisitions grid displays existing acquisitions.  You can search for existing acquisitions by clicking in the filter row in the grid columns and entering in the desired information. By default, the grid sorts by Tag Number.  Click on  to generate a quick report based on what you filtered.  Click on any row of the search results to see a highlight view of the record.  Click the view icon  to view a particular acquisition.  From there, you have the option to edit it.

Edit an Acquisition

If on GAAP, the acquisition amount and the adjustment flag can be modified if the acquisition was posted during the current fiscal year.

Regardless of whether or not the GAAP flag is checked, the fund, function, and asset class cannot be modified in acquisitions.  The type, date, and update flag can not be modified either.  If the GAAP flag is checked, the acquisition amount and error correction flag can be modified if the acquisition is in an open period. 

  1. Query for the desired acquisition.
  2. Click on the edit icon  
  3. Make desired changes
  4. Click on  to post the changes to the system. Click on Close to close the window and return to the grid without saving changes.

Delete an Acquisition

If the GAAP flag is checked, Delete may be used to delete an acquisition that was added in the current period.  You will not be able to delete acquisitions from archived or closed 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 "Aquisitions Prior to System Startup" on the GAAP Schedule by Source. Posting historical acquisitions for these items will put them into the correct source fund.

  1. Query the desired acquisition
  2. Click on the Delete icon 
  3. Confirm you want to delete by clicking on 

More Information on Acquisitions

Listed below is a brief description on posting acquisition transactions for various other reasons.

Adding Improvements to an Item

  • When improving an item, enter the transaction with a type of "A", check the update original cost field, and leave the error correction flag unchecked (unless the acquisitions was supposed to be added in a prior year).

Recording Historical Acquisition Information

  • Historical acquisition transactions refer to posting an acquisition record for an item already on the inventory without a corresponding acquisition transaction. When on GAAP reporting, any capitalized assets without a corresponding acquisition record 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.  Acquisitions posted for this reason should have leave the update original cost and error adjustment fields unchecked.  You can also use a date from a prior fiscal year when posting the transaction. The total acquisition amount must not exceed the original cost when adding historical acquisition transactions.

Recording a Lease Payment or Other Periodic Payment

  • To record a lease payment or other periodic payment, you should add a transaction with a type of "P". Keep the update original cost and error correction fields unchecked. The original cost will never be updated for payment transactions.

Correcting an Error from a Previous Fiscal Year

  • If on GAAP, acquisition transactions can be posted to correct an error in the original cost of an item posted in a previous fiscal year. When posting transactions for this purpose, the update original cost field should be checked as should the error correction field. This will update the original cost on the item record and put the amount in the "adjustments" column of the Change Schedule instead of the "acquisitions" column as in improving an item.

Tracking Grant Items

On the acquisition transaction record there are two fields related to grants. One of these is the Grant ID field. By entering some identifier code, such as CHAPI, CHAPII, etc., in this field you can easily keep track of all of the items purchased under the grant. There is a report, Asset Listing by Grant/Source, that can be generated to view these items.

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