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Navigating to Financial Transaction Definitions

CONFIGURATION > FINANCE APPLICATION > FINANCIAL TRANSACTIONS > SET UP BUSINESS DEFINITIONS

What are Financial Transactions Definitions?

Financial Transaction Definitions are a set of business rules which are used to control the 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.

Validations & Restrictions Table

Action	Validations	Restrictions
General	Multiple Financial Transaction definitions can exist in the system, but each one must have a unique Name and Alternative Code. Only one 'Active' Financial Transaction Definition can exist at a time.	Financial Transaction cannot be created if no 'Active' Financial Transaction Definition exists.
Create	Mandatory fields must be defined. Name and Alternative Code must be unique.	Not Applicable
Edit	Mandatory fields must be defined. Name and Alternative Code must be unique.	Not Applicable
Delete	Not Applicable	Cannot be deleted if it is the 'Active' Definition.

Attributes Table

An * indicates a field is mandatory

Name	Description
Main Information
Number	An auto-generated number that uniquely identifies the Financial Transactions Definitions.
Name*	The name of the Definition.
Alternative Code*	An alternative unique code for the Definition. Unless otherwise specified, the codes for new Definitions default to the Name's initials in capital letters.
Description	A description of the Definition.
State	The state of the Definition which can be either 'Active' or 'Inactive'. Only one 'Active' Definition can exist at a time.
System Generated Financial Transaction Settings
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
Available Rejection Reasons
Available Rejection Reasons*	Defines the reasons for which Financial Transactions in a 'Draft' state can be rejected.
Log Information
Log Information	The standard set of Log Details information available in all entities.

Related Areas

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Configuring Rejection Reasons
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Configuring Financial Transaction Types
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Configuring Payment Methods
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Understanding the Allocation Principles
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Handling Invoice Due Dates
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Paying an invoice using Quick Pay
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Configuring Financial Transaction Categories
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Managing Financial Transactions
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Configuring Financial Transactions Definitions
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Creating and Sending Invoice Cancellation Details Printout
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Creating and Sending Invoice Details Printout
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Creating and Sending Credit Note Details Printout
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Understanding Financial Transactions
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R9 - Cancelling Invoices

Helpful Links

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CRM.COM Quickstart Manual
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Working with Summary Pages - R18
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Working with Summary Pages
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Working with Summary Pages - R15
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Extracting a Printout from a Data Entry page

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