Acquisitions

1 Create an Acquisition
2 Search/View an Acquisition
3 Edit an Acquisition
4 Delete an Acquisition
5 More Information on Acquisitions

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 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

From the Transactions menu, select "Acquisitions" to display the Acquisition grid.
Click
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 pending item will be automatically removed from pending items grid.
  1. The date populated from the pending file will be the invoice date unless the "Using Received Date" is checked in Configuration. If checked, it will pull the 'received date' from the invoiced item.
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. 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.
  5. Vendor Number is the USAS vendor number from which the item was purchased.
  6. Vendor Name is the USAS vendor name from which the item was purchased.
  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 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.
  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. This field is not accessible. Once the acquisition is added, it will display the fund from the associated item record.
  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. This field is not accessible. Once the acquisition is added, it will display the function from the associated item record.
  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. This field is not accessible. Once the acquisition is added, it will display the asset class from the associated item record.
Click on
to add the acquisition. Click on to cancel out without saving changes.

Search/View an Acquisition

The Acquisitions grid displays existing acquisitions on file. 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 CSV or EXCEL formatted spreadsheet 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 an existing acquisition.

TIP: To find a specific value, you can enter the entire value. However, most columns will auto filter as you type, narrowing down your search to including your search criteria. For example, to find tag #190980, enter '19098' and it will display tag numbers between 190980 -190989 on the grid. Percentage symbol '%' can be used as a wildcard on most columns in the filter row. Less than < and/or greater than > symbols can also be used on numeric based or date columns in the filter row.

Use the More icon to add or remove columns from the grid.

Edit an Acquisition

Regardless of whether or not the GAAP flag is checked, the fund, function, and asset class cannot be modified in acquisitions. The tag number, 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 date is in an open period.

Query for the desired acquisition.
Click on the edit icon
Make desired changes
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 only (period must be open as well). You will not be able to delete acquisitions from archived or closed periods.

Query the desired acquisition
Click on the Delete icon
Confirm you want to delete by clicking on

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.

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 leave the update original cost and error adjustment fields unchecked. 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.