Back to Financial Transactions Main Page
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Learn how you can to configure the Financial Transaction Transactions Business Definition Definitions that will dictate determine the overall behavior behaviour of Financial Transaction |
What does this section cover?What are Financial Transaction DefinitionsNavigating to Financial Transaction Definitions
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CONFIGURATION > FINANCE APPLICATION > FINANCIAL TRANSACTIONS > SET UP BUSINESS DEFINITIONS |
What are Financial Transactions Definitions?
Financial Transaction definitions is Transaction Definitions are a set of business rules which are used to control the behavior of Financial Transaction throughout their whole life cycle.
Creating, Editing & Deleting Validations & Restrictionsthe behaviour 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 Financial Transactions 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 and alternative codeName and Alternative Code.
- Only one active Financial Transaction definition 'Active' Financial Transaction Definition can exist at any given a time.
| - If no active Financial Transactiondefinition exists, then no Financial Transactioncan be createdFinancial Transaction cannot be created if no 'Active' Financial Transaction Definition exists.
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| Create | - Mandatory Fields fields must be defined.
- Name and alternative code Alternative Code must be unique.
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| Edit | - Mandatory Fields fields must be defined.
- Name and alternative code Alternative Code must be unique.
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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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| NumberNumber | An auto-generated number that uniquely identifies the accounts receivable definitions | NameFinancial Transactions Definitions. |
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| Name* | The name of the definition | Alternative codeDefinition. |
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| Alternative Code* | 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 point |
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Defining your own Financial Transaction Definition tailored to your company's needs
Navigate to PATH
Either search for an existing one or from the Top Menu click on NEW MAIN INFORMATION
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Log Information - Global | Log Information - Global | From the Top Menu click on SaveDeleting 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 |
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Visit /wiki/spaces/WIP/pages/10010220 Financial Transaction for business examples related to | a time. |
| System Generated Financial Transaction Settings |
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| Default Financial Transaction Types* | 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 Classifications: - Invoice
- Invoice Cancellation
- Credit Note
- Payment
- Payment Cancellation
- Refund
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| Available Rejection Reasons |
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| Available Rejection Reasons* | Defines 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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