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<\/p>\nAfter capturing the basic details of Asset, next step will be to document the details of Asset Acquisition including the Acquisition Purchase Agreement (APA).<\/p>\n
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NOTE: The Acquisition simply details the exact purchasing amount from a source (registered vendor), this is not the actual cost management where depreciation costs are defined. Acquisition is a one-off activity and can only be captured once, on an asset.<\/p>\n
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Click the Acquisition button on an Asset dashboard to begin. On the Acquisition page, click the “New” button, when the information window opens, it presents the Asset Acquisition form. Important details are required; APA Date (the date it was purchased), Condition (Used\/New), Vendor (the source it was purchased from), the Asset Acquisition account entity from Chart of Account – this only appears when the account binding has not been completed via Account Module, the purchasing Amount and the document\u00a0 field which should upload the purchase agreement or document.<\/p>\n
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Click the save button when all these are captured.<\/p>\n
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Here is what will happen next:<\/strong><\/p>\n 1. A Bill will be sent to Account requesting payment to the Vendor with the purchasing Amount. <\/p>\n Next step will be Cost Management (Depreciation\/Amortisation) definitions.<\/p>\n","protected":false},"excerpt":{"rendered":" After capturing the basic details of Asset, next step will be to document the details of Asset Acquisition including the Acquisition Purchase Agreement (APA). NOTE: The Acquisition simply details the exact purchasing amount from a source (registered vendor), this is not the actual cost management where depreciation costs are defined. Acquisition is a […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","template":"","meta":{"footnotes":""},"doc_category":[62],"doc_tag":[],"class_list":["post-5836","docs","type-docs","status-publish","hentry","doc_category-assets"],"year_month":"2026-10","word_count":209,"total_views":"14","reactions":{"happy":"0","normal":"0","sad":"0"},"author_info":{"name":"Profitaa","author_nicename":"profitaa","author_url":"https:\/\/profitaa.com\/ng\/author\/profitaa\/"},"doc_category_info":[{"term_name":"Assets","term_url":"https:\/\/profitaa.com\/ng\/docs-category\/assets\/"}],"doc_tag_info":[],"yoast_head":"\n
\n2. Entries into the General Ledger and also the Asset Ledger<\/p>\n