Back to Financial Transactions Main Page
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Learn how you can to configure the Financial Transaction Transactions Business Definition that will dictate the overall behavior behaviour of Financial Transaction |
What does this section cover?Navigating to Financial Transaction Definitions
What are Financial Transaction DefinitionsCONFIGURATION > FINANCE APPLICATION > FINANCIAL TRANSACTIONS > SET UP BUSINESS DEFINITIONS |
What are Financial Transactions Definitions?
Financial Transaction definitions Transaction Definitions is a set of business rules used to control the behavior of Financial Transaction throughout their whole life cycle.
Creating, Editing & Deleting Validations & Restrictionsbehaviour of Financial Transactions throughout their Life Cycle.
Financial Transaction Definitions can be edited, deleted and have their Life Cycle State changed provided that validations and restrictions are met.
- Navigate to Financial Transaction Definitions and explore existing records via the Summary page.
- Click on the link (name or number) of the record of your interest to enter the Data Entry page and see more detail.
- Use the Actions Menu to create a NEW Definition, modify (EDIT) or DELETE an existing one.
- Use BACK to return to the Summary page and CANCEL to revert any unwanted changes made to the Financial Transactions Definition.
- Click on the Audit Log button to view a log of changes performed on the displayed Resource Scheduling Definition.
Check the Validations & Restrictions Table below for a list of available Actions when working with Financial Transactions Definitions including each Action's related validation and restrictions. View the Attributes Table for a comprehensive description of the Financial Transactions Definitions fields.
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Validations & Restrictions Table| Action | Validations | Restrictions |
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| General | - Multiple Financial Transaction definitions can exist in the system, but each one should must have a unique name Name and alternative codeAlternative Code
- Only one active Financial Transaction definition 'Active' Financial Transaction Definition can exist at any given a time
| - If no active Financial Transaction cannot be created if no 'Active' Financial Transaction definition exists, then no Financial Transaction can be createdDefinition exists
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| Create | - Mandatory Fields fields must be defined
- Name and alternative code must be uniqueAlternative Code must beunique
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| Edit | - Mandatory Fields fields must be defined
- Name and alternative code must be uniqueAlternative Code must beunique
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| Delete | | - Cannot be deleted if its the active definition
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- it is the 'Active' Definition
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An * indicates a field is mandatory
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Log Information - Global | Log Information - Global | Deleting Financial Transaction Definitions
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Deleting a record - Global | Deleting a record - Global | Changing the Life Cycle State of Financial Transaction Definition
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Changing the Life Cycle State of a Definition - Global | Changing the Life Cycle State of a Definition - Global | Name | Description |
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| Main Information |
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| Number | An auto-generated number that uniquely identifies the accounts receivable definitionsFinancial Transactions Definitions |
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| Name* | The name of the definitionDefinition |
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| Alternative codeCode* | An alternative unique code for the definition. On creating a new definition it defaults to the first letter of each word included in the name (in Capitals), if nothing else is specifiedDefinition. Unless otherwise specified, the codes for new Definitions default to the Name's initials in capital letters |
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| Description | A description for of the definitionDefinition |
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| State | The state of the definition Definition which can be active or inactiveeither 'Active' or 'Inactive'. Only one active definition 'Active' Definition can exist at any pointa time. |
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| System Generated Financial Transaction Settings |
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| Default Financial Transaction Types* | Defines the default financial transaction types per financial transaction classification that will be preselected whenever a financial transaction of that classification is created. A financial transaction type Determines the Financial Transaction Types that will be selected automatically (i.e. by default) when a Financial Transaction of each Classification is created. A Financial Transaction Type can be specified for each of the following classificationsClassifications: - Invoice
- Full Invoice Cancellation
- Credit Note
- Payment
- Payment Cancellation
- Refund
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Allowed | Available Rejection Reasons | *Define the rejection reasons that are allowed to be used whenever a draft financial transaction is rejected. |
Defining your own Financial Transaction Definition tailored to your company's needs
Navigate to CONFIGURATION > FINANCE APPLICATION > FINANCIAL TRANSACTIONS > SET UP BUSINESS DEFINITIONS
Either search for an existing one or from the Top Menu click on NEW
Image RemovedMAIN INFORMATION
- Provide information for the following fields
- Name
- Alternative Code
- Description
SYSTEM GENERATED FINANCIAL TRANSACTION SETTINGS
- Select the default type for each financial transaction classification by selecting from the drop down list
- Default Invoice Type
- Default Payment Type
- Default Invoice Cancellation Type
- Default Payment Cancellation Type
- Default Credit Note Type
- Default Refund Type
AVAILABLE REJECTION REASONS
- Click on ADD
- Name: From the drop down list select from the configured Rejection Reasons to make available to agents
- Default: Once you add all the required reasons check the box for the reason you would be the selected reason by default when rejecting a financial transaction
From the Top Menu click on SAVE
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| Available Rejection Reasons* | Predefines the reasons for which Financial Transactions in a 'Draft' state can be rejected |
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| Log Information |
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| Log Information | The standard set of Log Details information available in all entities |
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