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Excerpt
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Find out how to create a new Financial Transactions

What does this section cover?

Learn to work with Financial Transactions

Back to Financial Transactions Main Page

Panel
nameblue

Table of Contents

Table of Contents
minLevel2

Navigating to Financial Transactions

Invoices 

Finance Application > Financial Transactions > Manage Financial Transactions

Info

Explaining Financial Transactions  Fields

FINANCE > FINANCIAL TRANSACTIONS > MANAGE FINANCIAL TRANSACTIONS

Using Financial Transactions

Use Financial Transactions to manage transactions that will either debit or credit the customer's Accounts Receivable.

There exist six different Classifications of Financial Transactions, each with its distinct characteristics and behaviour.  Four of the Classifications can be manually created.  

  • Invoice - Debits the Accounts Receivable
  • Credit Note - Credits the Accounts Receivable
  • Payment - Credits the Accounts Receivable
  • Refund - Debits the Accounts Receivable

The other two are automatically generated by the system when Payment or an Invoice is cancelled.

  • Payment Cancellation- Debits the Accounts Receivable
  • Invoice Cancellation - Credits the Accounts Receivable

Financial Transactions have a Life Cycle State which determines whether the transaction affects the Accounts Receivable Balance.  

  • Draft transactions can be 'Posted',  'Rejected' and edited and do not affect the Accounts Receivable Balance.
  • Posted transactions are permanent, cannot be edited and affect the Accounts Receivable Balance.
  • Rejected transactions cannot be edited and do not affect the Accounts Receivable Balance.

     
  • Navigate to Financial Transactions and explore existing records via the Summary page.  
  • Click on the 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 Financial Transaction or modify (EDIT) an existing one. Financial Transactions cannot be deleted but can be rejected or cancelled, depending on their Life Cycle State.
  • Use the PRINTOUTS link to extract or email information related Financial Transactions to the customer. 
  • Use BACK to return to the Summary page and CANCEL to revert any unwanted changes made to the Financial Transactions.
  • Click on ACTIONS to discover other possibilities available for Financial Transactions.

Check the Validations & Restrictions Table below for a list of available Actions when working with Financial Transactions including each Action's related restrictions, validations and a description of its system process. View the Attributes Table for a comprehensive description of Financial Transactions fields.  

Anchor
validations
validations
Validations & Restrictions

 

ActionRestrictions

Validations

System Processing

Create
  •  Not Applicable

  • Not Applicable
Save Invoice
  • Not Applicable
  • SAVE AS DRAFT
    • Validates that:
      • All mandatory fields are specified
      • Accounts Receivable is not 'Terminated.'
      • Validates the category against the Financial Transaction's Type
  • SAVE (POSTED)
    • Validates that:
      • The VAT percentage against the selected VAT rate
      • The Due Date, (if defined) meets the Credit Period Rules defined on the Accounts Receivable Credit Period and 'Active' Accounts Receivable Definitions
  • SAVE AS DRAFT & SAVE (POSTED)
    • Back Office Code Validation
      • If the Back Office Code is specified, the System will validate that the code is unique for that Type of Financial Transaction
      • If a Back Office Code is not specified, then no validation takes place
  • SAVE AS DRAFT
    • Life Cycle State is set to 'Draft'
    • Issued Date is set
    • Reference Number is set
    • Invoice Items sub amounts and total amounts are calculated
  • SAVE (POSTED)
    If the Invoice is created and 'Posted' at the same time then 
    • Life Cycle State is set to 'Posted'
    • Posted Date is set
    • Transaction number is set
    • Due Date is calculated and set, if not already set
    • Un-allocated Credit Notes are allocated against this Invoice based on the allocation principle specified in the 'Active' Accounts Receivable Definition
    • Invoice Items sub amounts and total amounts are calculated
Save Credit Note
  • Not Applicable
  • SAVE AS DRAFT
    • Validates that:
      • All mandatory fields are specified
      • Accounts Receivable is not 'Terminated'
      • Validates the category against specified 'Financial Transaction' type
  • SAVE (POSTED)
    • Validates the VAT percentage against the selected VAT rate
  • SAVE AS DRAFT & SAVE (POSTED)
    • Back Office Code Validation
      • If the Back Office Code is specified, the System will validate that the code is unique for that Type of Financial Transaction
      • If a Back Office Code is not specified, then no validation takes place
  • SAVE AS DRAFT
    • Life Cycle State is set to 'Draft'
    • Issued Date is set
    • Reference Number is set
    • Credit Note Items sub amounts and total amounts are calculated
    • Invoice Items sub amounts and total amounts are calculated
  • SAVE (POSTED)
    If the Credit Note is created and posted at the same time then the:
    • Life Cycle State is set to 'Posted'
    • Posted Date is set
    • Transaction Number is set
    • Credit Note is allocated againstanyun-allocatedInvoices based on the allocation principle specified in the 'Active' Accounts Receivable Definition
    • Invoice Items sub amounts and total amounts are calculated 
Save Payment
  • Not Applicable
    • Validates that:
    • All mandatory fields are specified
    • Accounts Receivable is not 'Terminated'
    • Validates the category against Financial Transaction Type
    • Validates the payment method against Financial Transaction Type
  • SAVE AS DRAFT & SAVE (POSTED)
    • Back Office Code Validation
      • If the Back Office Code is specified, the System will validate that the code is unique for that Type of Financial Transaction
      • If a Back Office Code is not specified, then no validation takes place
  • SAVE AS DRAFT
    • Life Cycle State is set to 'Draft'
    • Issued Date is set
    • Reference Number is set
    • Invoice Items sub amounts and total amounts are calculated
  • SAVE (POSTED)
    If the Payment is created and posted at the same time then the:
    • Life Cycle State is set to 'Posted'
    • Posted Date is set
    • Transaction Number is set
    • Payment is allocated againstanyun-allocatedInvoices based on the allocation principle specified in the 'Active' Accounts Receivable Definition

    • Invoice Items sub amounts and total amounts are calculated

      Note

      Status
      colourYellow
      titleAvailable from CRM.COM R11.0.0
      - If the Payment is related to a Payment Gateways then the Life Cycle State will be set to "Pending Verification" and not "Posted" until is handled successfully by the Gateway

Save Refund
  • Not Applicable
  • Validates that:
    • All mandatory fields are specified
    • Accounts Receivable is not 'Terminated'
    • Validates the category against Financial Transaction Type
    • The Balance of the customer is negative and equal to or less than to the Refund amount
  • SAVE AS DRAFT & SAVE (POSTED)
    • Back Office Code Validation
      • If the Back Office Code is specified, the System will validate that the code is unique for that Type of Financial Transaction
      • If a Back Office Code is not specified, then no validation takes place
  • SAVE AS DRAFT
    • Life Cycle State is set to 'Draft'
    • Issued Date is set
    • Reference Number is set
  • SAVE (POSTED)
    If the Refund is created and posted at the same time then the:
    • Life Cycle State is set to 'Posted'
    • Posted Date is set
    • Transaction Number is set
Edit
  • Life Cycle State = 'Draft'
  • Mandatory Information is provided
  • "Pending Verification" Payments cannot be modified and no actions can be applied manually on them
Delete
  • Financial Transactions cannot be deleted
  • Mandatory Information is provided
 
Post
  • Life Cycle State = 'Draft'
  • Validation is only applied on Invoices
    • If defined, the Due Date is validated against the Accounts Receivable Credit Term
  • Validation is only applied on Refunds
    • The Balance of the related Accounts Receivable is negative and equal to or less than the Refund amount.
  • Posted Date is set 
  • Transaction Number is generated (Until a Financial Transaction is 'Posted' only a Reference Number is available)

  • Allocations are performed, and the Financial Transactions are validated based on the 'Active' Configuring Financial Transaction Definitions and their Financial Transaction Type. 

    Note

    Status
    colourYellow
    titleAvailable from CRM.COM R11.0.0
    - If the Transaction is Payment or Payment Cancellation related to a Payment Gateways then the Life Cycle State will be set to "Pending Verification" and not "Posted" until is handled successfully by the Gateway

Reject
  • Life Cycle State = 'Draft'
  • Validates that
    • A reason for the Rejection is specified
    • The Rejection Reason is included in the 'Allowed Rejection Reasons' specified in the 'Active' Financial Transactions Definitions
    • The related Accounts Receivable is not 'Terminated'
  • The Life Cycle State of the Financial Transaction is updated to 'Rejected'
Cancel Payment
  • Life Cycle State = 'Posted'
  • Back Office Code Validation
      • If the Back Office Code is specified, the System will validate that the code is unique for that Type of Financial Transaction
      • If a Back Office Code is not specified, then no validation takes place
  • A new Financial Transaction is created with a "Payment Cancellation" classification
    • Life Cycle State of the Payment Cancellation Type is set to 'Posted'
    • Posted Date is set equal to current date
    • Transaction Number is set
    • Payment Cancellation number is set on the cancelled Payment

  • If the Payment is allocated against one or more Invoices then it is de-allocated

    Note

    Status
    colourYellow
    titleAvailable from CRM.COM R11.0.0
    - If the Payment is related to a Payment Gateways then the Life Cycle State will be set to "Pending Verification" and not "Posted" until is handled successfully by the Gateway

Move Payment
  • Life Cycle State = 'Posted'
  • Validates that
    • The intended Accounts Receivable (destination) for the Payment is not 'Terminated'
  • A Payment Cancellation is created against the initial Accounts Receivable, referencing the original Payment
    • The Payment Cancellation is created with a 'Posted' Life Cycle State
    • The Payment Cancellation amount is the same as that of the original Payment
  • An identical Payment is created against the Accounts Receivable provided
    • the Payment is created with a 'Posted' Life Cycle State
    • the Payment amount and method are same as that of the original Payment
  • A Financial Transaction Type is provided by the user as input for each Financial Transaction. Payment movements are allowed to and from Accounts Receivable that are not 'Terminated'.
Cancel Invoice
  • Life Cycle State = Posted
  • Back Office Code Validation
      • If the Back Office Code is specified, the System will validate that the code is unique for that Type of Financial Transaction
      • If a Back Office Code is not specified then no validation takes place
  • A new Financial Transaction is created with an "Invoice Cancellation" classification 
    • Life Cycle State of the Invoice Cancellation Type is set to 'Posted' 
    • Posted Date is set equal to current date
    • Transaction Number is set
    • Invoice Cancellation is set against the cancelled Invoice
  • Any payments or Credit Notes which are already allocated against the cancelled Invoice are de-allocated
Quick Pay (Invoices)
  • Not available for invoices that are 'Settled'
  • Not Applicable
  • Not Applicable

 

Anchor
attributes
attributes
Attributes

An * indicates a field is mandatory

Invoice Attributes

Financial transaction type The reason that the transaction was rejected.
Mandatory on conditions:

Name

Description

NumberThe transaction number of the invoice Invoice which is automatically generated on posting the invoiceInvoice
Reference numberNumberThe reference number of the invoice Invoice which is automatically generated on by creating the invoiceInvoice
Accounts receivable Receivable*The related accounts receivableAccounts Receivable that the Invoice is created for
Financial Transaction Type*The financial transaction type Financial Transaction Type. Only financial transaction types Financial Transaction Types classified as invoices Invoices can be applied
Life cycle stateThe life cycle state of the invoiceRejection reasonCycle State

The Life Cycle State of the Invoice which can be any of the following:

  • Draft
  • Posted
  • Rejected
Rejection Reason

The Rejection Reason is mandatory only if the

transaction

Transaction is rejected while being in

draft life cycle state

a 'Draft' Life Cycle State.

CategoryThe category of the invoiceInvoice. Only categories Categories listed as allowed 'Allowed' on the related financial transaction type Financial Transaction Type can be applied.

Issued onOn

The date that the invoice Invoice was issued on
Posted onOnThe date that the invoice was postedInvoice was 'Posted' on
Due onOnThe date that on which the credit period for that specific invoice is ending.
Mandatory on conditions: If the invoice is posted 		Shared NotesShared notes for the invoicea 'Posted' Invoice ends.
Shared NotesNotes for the Invoice. Each time the notes are amended, the user and the date are logged.
Back Office Code 

A code which is used by external systems to refer to a specific Financial Transaction.
The Back Office Code is not mandatory, but if specified then it should be unique.

Invoice Items*

A list of items which are invoiced Invoiced by this financial transactionFinancial Transaction. The following aggregated amounts are also calculated dynamically:

  • Discount amount
  • VAT amount
  • Net amount
  • Total amount
  • Status
    colourBlue
    titleAvailable from CRM.COM R12.0.0
    Tax Amount
  • Outstanding amount (AVAILABLE AFTER SAVING)
  • Unsettled amount
It is mandatory to specify
  • (AVAILABLE AFTER SAVING)

Invoices must contain at least one invoice item

 

Credit note

item

Status
colourBlue
titleAvailable from CRM.COM R12.0.0
'VIEW APPLIED TAX RATES' link is available in Items section (and after saving the Financial Transaction) which displays the Tax Rates that were applied per Item. Applied Tax Rates Information includes the following:

  • Product Code
  • Tax Percentage
  • Tax Amount
  • Tax Rate
  • Tax Code
Log InformationThe standard set of Log Details information available in all entities  

INVOICEImage Added

Credit Note Attributes

Payment

Name

Description

NumberThe transaction number of the
credit note
Credit Note which is automatically generated on posting the
credit note
Credit Note
Reference
number
NumberThe reference number of the
credit note
Credit Note which is automatically generated on creating the
credit note
Credit Note
Accounts
receivable
Receivable*The
related accounts receivableFinancial transaction type
Accounts Receivable that the Credit Note is created for
Financial Transaction Type*The
financial transaction type
Financial Transaction Type. Only
financial transaction types
Financial Transaction Types classified as
credit notes
Credit Notes can be applied
Life
cycle stateThe life cycle state of the credit noteRejection reasonThe reason that the transaction was rejected.
Mandatory on conditions:
Cycle State

The Life Cycle State of the Credit Note which can be any of the following:

  • Draft
  • Posted
  • Rejected
Rejection Reason

The Rejection Reason is mandatory only if the

transaction

Transaction is rejected while being in

draft life cycle state 

a 'Draft' Life Cycle State

CategoryThe category of the
credit note
Credit Note. Only
categories
Categories listed as
allowed
'Allowed' on the related
financial transaction type
Financial Transaction Type can be applied.

Issued

on

On

The date that the
credit note
Credit Note was issued on
Posted
on
OnThe date that the
credit note was posted
Credit Note was 'Posted' on
Issue
reason
ReasonA description of the reason that the
credit note
Credit Note is issued
Shared Notes
Shared notes for the credit note
Notes for the Credit Note. Each time the notes are amended, the user and the date are logged.
Back Office Code 

A code which is used by external systems to refer to the specific Financial Transaction.
The Back Office Code is not mandatory, but if specified then it should be unique

Invoices to creditThe
invoices
Invoices that were intended to be credited
Credit Note Items*

A list of items which are credited by this

financial transaction

Financial Transaction. The following aggregated amounts are also calculated dynamically:

  • Discount amount
  • VAT amount
  • Status
    colourBlue
    titleAvailable from CRM.COM R12.0.0
    Tax Amount
  • Net amount
  • Total amount

It is mandatory to specify at least one

credit note item

 

Credit Note item

Status
colourBlue
titleAvailable from CRM.COM R12.0.0
'VIEW APPLIED TAX RATES' link is available in Items section (and after saving the Financial Transaction) which displays the Tax Rates that were applied per Item. Applied Tax Rates Information includes the following:

  • Product Code
  • Tax Percentage
  • Tax Amount
  • Tax Rate
  • Tax Code
Log InformationThe standard set of Log Details information available in all entities  

CREDIT NOTEImage Added

Payment Attributes

Financial transaction type

The reason that the transaction was rejected.

Mandatory on conditions:The bills that were intended to be paid

Name

Description

NumberThe transaction number of the payment Payment which is automatically generated on posting the paymentPayment
Reference numberNumberThe reference number of the payment the Payment which is automatically generated on by creating the paymentPayment
Accounts receivable Receivable*The related accounts receivableAccounts Receivable that the Payment is created for
Financial Transaction Type*The financial transaction type Financial Transaction Type.Only financial transaction types classified as payment Financial Transaction Types classified as Payment can be applied
Life cycle stateThe life cycle state of the paymentRejection reasonCycle State

The Life Cycle State of the Invoice which can be any of the following:

  • Draft
  • Posted
  • Rejected

  • Pending Verification

    Status
    colourYellow
    titleAvailable from CRM.COM R11.0.0

    Note

    "Pending Verification" Life Cycle State is set whenever a Payment with a Payment Method processed by a Generic Payment Gateway is posted. 

Rejection Reason

The Rejection Reason is mandatory only if the transaction Transaction is rejected while being in draft life cycle statea 'Draft' Life Cycle State

Payment method Method*The payment method of that paymentPayment for the specific Transaction. Only payment Payment methods listed as allowed on the related financial transaction type 'Allowed' in the Financial Transaction Type can be applied.
(Payment amount ) Amount*The amount of the Payment
Payment Preference
Status
colourYellow
titleAvailable from CRM.COM R11.0.0
 

The Accounts Receivable Payment Preference that will be used to process the payment.

Note

The field which is displayed and also used to search and retrieve the Accounts Receivable Payment Preference is the field which is set as the field identifier, through the related Payment Preference.This is applicable and mandatory only if the selected Payment Method is processed by a Generic Payment Gateway.

CategoryThe category of the payment Payment. Only categories Categories listed as allowed 'Allowed' on the related financial transaction type Financial Transaction Type can be applied.

Issued onOn

The date that the payment the Payment was issued on
Posted onOnThe date that the payment was postedthe Payment was 'Posted' on
Received on On*The date that on which the payment Payment was received.
Received by user By User*The user who actually received the payment.Payment
Received by unit By Unit*The unit who actually that received the payment.Payment
Shared NotesShared notes Notes for the payment. Each time the notes are amended, the user and the date are logged.
Back Office Code 
Invoices to payThe invoices that were intended to be paid
Bills to pay

A code which is used by external systems to refer to the specific Financial Transaction.
The Back Office Code is not mandatory, but if specified then it should be unique.

Invoices To PayThe Invoices that the Payment was intended for
Bills to PayThe Bills that the Paymentwereintended for

Voucher

The voucher that was used for the Payment and resulted into creating in its creation and posting the payment. This information is available only if the payment Payment was created by using a voucher.
Payment Gateway Information
Status
colourYellow
titleAvailable from CRM.COM R11.0.0
 

Provides information related to the Payment Gateway Provided that processed the Payment.

  • Payment Gateway Provider

  • Payment Gateway Reference Number

  • Payment Gateway Request Number

  • Payment Gateway Request Life Cycle State

  • Payment Gateway Request Executed On

    Note

    This section is applicable only if the specified payment method is processed by a Payment Gateway Provider

Log InformationThe standard set of Log Details information available in all entities  

PAYMENTImage Added

Refund

 

Attributes

Refund amount

Name

Description

NumberThe transaction number of the refund Refund which is automatically generated on posting the refundRefund
Reference numberNumberThe reference number of the refund the Refund which is automatically generated on by creating the refundRefund
Accounts receivable Receivable*The related accounts receivableAccounts Receivable related to the Refund
Financial transaction type Transaction Type*The financial transaction type Financial Transaction Type. Only financial transaction types classified as refund Financial Transaction Types classified as Refund can be applied.
Life cycle stateThe life cycle state of the refundCycle State

The Life Cycle State of the Refund which can be any of the following:

  • Draft
  • Posted
  • Rejected
Refund Amount*The amount to be refundedRefunded
CategoryThe category of the Refund. Only Categories listed as 'Allowed' on the related Financial Transaction Type can be applied.

Issued On

The date that the Refund was issued on
Posted OnThe date that the Refund was 'Posted' on
Issue reasonA description of the reason for the Refund
Shared NotesNotes for the refund. Only categories listed as allowed on the related financial transaction type can be applied

Issued on

The date that the refund was issued
Posted onThe date that the refund was posted. Each time the notes are amended, the user and the date are logged.
Back Office Code 

A code which is used by external systems to refer to the specific Financial Transaction.
The Back Office Code is not mandatory, but if specified then it should be unique.


Log InformationThe standard set of Log Details information available in all entities  

REFUNDImage Added

Invoice Cancellation Attributes

Name

Description

NumberThe transaction number of the Invoice Cancellation which is automatically generated on posting the Invoice Cancellation
Reference NumberThe reference number of the Invoice Cancellation which is automatically generated on creating the Invoice Cancellation
Accounts Receivable*The Accounts Receivable related to the Invoice Cancellation
Financial Transaction Type*The Financial Transaction Type. Only Financial Transaction Types classified as Invoice Cancellations can be applied
Life Cycle State

The Life Cycle State of the Invoice Cancellation which can be any of the following:

  • Posted
  • Rejected
Rejection Reason

The reason that the Transaction was rejected. It is mandatory only if the Transaction is rejected while being in a 'Draft' Life Cycle State.

Invoice CancelledThe Invoice that is cancelled
CategoryThe category of the Invoice Cancellation. Only Categories listed as 'Allowed' on the related Financial Transaction Type can be applied.

Issued On*

The date that the Invoice Cancellation was issued on
Posted On*The date that the Invoice Cancellation was 'Posted' on
Issue ReasonA description of the reason for which the Invoice Cancellation is issued
Shared NotesNotes for the Invoice Cancellation. Each time the notes are amended, the user and the date are logged.
Back Office Code

A code which is used by external systems to refer to the specific Financial Transaction. 
The Back Office Code is not mandatory, but if specified then it should be unique.

Invoice Items

The list of items which were included in the cancelled Invoice

Log InformationThe standard set of Log Details information available in all entities  

INVOICE CANCELLATIONImage Added

Payment Cancellation Attributes

Include PageLog Information - GlobalLog Information - Global
  • From the Action Menu click on Save

    • System Processing

     

    NoteVisit /wiki/spaces/WIP/pages/10010220 Financial Transactions for business examples related to Creating Financial Transactions
    that the refund

    Name

    Description

    NumberThe transaction number of the Payment Cancellation which is automatically generated on posting the Payment Cancellation
    Reference Number *The reference number of the Payment Cancellation which is automatically generated on creating the Payment Cancellation
    Accounts Receivable*The related Accounts Receivable
    Financial Transaction Type*The Financial Transaction Type. Only Financial Transaction Types classified as Payment Cancellation can be applied.
    Life Cycle State*

    The Life Cycle State of the Payment Cancellation which can be any of the following:

    • Posted
    • Rejected
    • Pending Verification
      Status
      colourYellow
      titleAvailable from CRM.COM R11.0.0
    Rejection ReasonThe reason that the Transaction was rejected. It is mandatory only if the transaction is rejected while being in a 'Draft' Life Cycle State.
    Payment CancelledThe payment affected by the Payment Cancellation
    Payment AmountThe amount of the cancelled Payment
    CategoryThe category of the Payment Cancellation. Only Categories listed as 'Allowed' on the related Financial Transaction Type can be applied.

    Issued On*

    		The date that the Payment Cancellation was issued on
    Posted On*The date that the Payment Cancellation was 'Posted' on
    Issue reasonA description of the reason for which the Payment Cancellation is issued
    Shared NotesShared notes for the refund

    Creating & Saving, Validations & Restrictions

    ActionValidationsRestrictionsAdditional Information
    Create
    •  
    		 
    •  
    Save 
    •  
    •  

     

    Creating an Accounts Receivable 

     

  • Search using the criteria available in the summary page
  • From the top menu click on the New to open the Financial Transactions  data entry page
  • Rest of the steps

    • ATTACHMENTS

    Include PageAttachments - GlobalAttachments - Global

    LOG INFORMATION

    The following information is automatically set by the system on saving the Financial Transactions

    Notes for the Payment Cancellation. Each time the notes are amended, the user and the date are logged.
    Back Office Code
     

    A code which is used by external systems to refer to the specific Financial Transaction.
    The Back Office Code is not mandatory, but if specified then it should be unique.


    Payment Gateway Information
    Status
    colourYellow
    titleAvailable from CRM.COM R11.0.0
     

    Provides information related to the Payment Gateway Provided that processed the Payment Cancellation

    • Payment Gateway Provider

    • Payment Gateway Reference Number

    • Payment Gateway Request Number

    • Payment Gateway Request Life Cycle State

    • Payment Gateway Request Executed On

      Note

      This section is available only if the cancelled Payment was previously processed by a Payment Gateway Provider and the Payment Cancellation Type selected is related to the same Payment Gateway Provider

    Log InformationThe standard set of Log Details information available in all entities  

    PAYMENT CANCELLATIONImage Added

    Anchor
    additional
    additional
    Additional Actions for Financial Transactions

    The following actions are used to perform additional amendments on Financial Transactions that cannot be achieved using EDIT.  Some of the actions are available for all Financial Transaction Classifications, while others are only available for specific Classifications.

    Anchor
    post
    post
    Posting Draft Financial Transactions

    Follow the steps below to Post an existing 'Draft' Financial Transaction

    1. Navigate to MANAGE FINANCIAL TRANSACTIONS
    2. Search for the Financial Transactions with a 'Draft' Life Cycle State
    3. Click on the number/name of the record you would like to access, to go to the Data Entry page
    4. From the Action Menu click on ACTIONS > POST.  A confirmation message is shown to confirm the Posting.
    5. Click on YES  to Post the Transaction

    Anchor
    reject
    reject
    Rejecting Draft Financial Transactions

    Follow the steps below in order to reject an existing 'Draft' Financial Transaction

    1. Navigate to MANAGE FINANCIAL TRANSACTIONS
    2. Search for the 'Draft' Financial Transaction you would like to Reject
    3. Click on the number/name of the record you would like to access, to go to the Data Entry page
    4. From the Action Menu click on ACTIONS > REJECT to open the Reject Financial Transaction modal.  Select a reason for the rejection from the drop-down list.
    5. Click on SAVE

    Anchor
    cancel_inv
    cancel_inv
    Cancelling Invoices

     Follow the steps below to cancel an Invoice that has already been 'Posted'

    1. Navigate to MANAGE FINANCIAL TRANSACTIONS
    2. Search for the Invoice you would like to cancel
    3. Click on the number/name of the record you would like to access, to go to the Data Entry page
    4. From the Action Menu click on ACTIONS > CANCEL to open the Invoice Cancellation modal. Provide the required information.
    5. Click on SAVE

    Anchor
    cancel_pay
    cancel_pay
    Cancelling Payments 

     Follow the steps below to cancel a Payment that has already been 'Posted'

    1. Navigate to MANAGE FINANCIAL TRANSACTIONS
    2. Search for the Payment you would like to cancel
    3. Click on the number/name of the record you would like to access, to go to the Data Entry page
    4. From the Action Menu click on ACTIONS > CANCEL to open the Payment Cancellation modal.  Provide the required information.
    5. Click on SAVE

    Anchor
    move_pay
    move_pay
    Moving Payments to a different Accounts Receivable

    CRM.COM allows the automatic movement of a Payment from oneAccountsReceivable to another.  Moving Payments can be accomplished through either customer or system accounts. 

    View /wiki/spaces/WIP/pages/10010218 for more information

    1. Navigate to MANAGE FINANCIAL TRANSACTIONS
    2. Search for the Financial Transactions you would like to relocate to another account
    3. Click on the number/name of the record you would like to access, to go to the Data Entry page
    4. From the Action Menu click on ACTIONS > MOVE TO ACCOUNT to open 'Move Payment From.'
      1. Select the Destination Accounts Receivable you wish to move the Payment to
      2. Click on SAVE

    Anchor
    quick_pay
    quick_pay
    Paying an Invoice using Quick Pay

    Quick Pay is a process used to quickly pay the unsettled amount of Bills and Invoices.  Follow the steps below:

    1. Navigate to MANAGE FINANCIAL TRANSACTIONS
    2. Search for the Invoice you would like to pay
    3. Click on the number of the Invoice to go to the Data Entry page
    4. From the Actions Menu click on ACTIONS > QUICK PAY to open the Quick Pay modal
      1. The Amount is set to be equal to the unsettled amount of the Invoice.
      2. The following information can be updated:
        1. Payment Type
        2. Payment Method
        3. Issued On
        4. Category
        5. Received By User
        6. Received by Unit
    5. Click on SAVE

     

    Note

    View Understanding Financial Transactions for related business examples


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