Transaction Types - Setup Tutorials

How to Create a New Transaction Type 

1. Navigate to Main Menu > Setup > Transactions.

2. Click New (button) to open a form on the right. Enter the fields as follows:

3. General

   1. Type in a Description of the transaction.

   2. Type in a short code for the Transaction Type to identify it on reports.

   3. Select an option next to Contacts to create a lookup list on the transaction type. (e.g. select Customers - Active for a Customer Invoice, select N/A for a Ledger entry). The options are:

      • N/A 

      • Customers - All 

      • Customers - Active

      • Suppliers - All

      • Suppliers - Active

      • Staff

   4. Select an option next to Staff to create a lookup list on the transaction type (e.g. Rep for Customer Invoice). The options are:

      • N/A

      • Rep (the sales representative)

      • Assign to (e.g. a staff member that must handle the invoice)

      • Rep & Assign to

   5. Select any fields to disable next to Disable Fields. The options are: 

      • Header - Date

      • Header - Company

      • Header - Credit Terms

      • Header - Status

      • Item - Description

      • Item - Code

      • Item - Prices

4. Items & Inventory (These fields are only applicable to inventory-related transactions.)

   1. Select an Item Type from the dropdown list. The options are:

      • Items

      • Default Item (Applicable to Ledger entries)

      • Stock Transfer - Issue

      • Stock Transfer - Receive

   2. Select a Pricing option from the dropdown list. The options are:

      • Sell Price (e.g. Customer Invoices)

      • Cost Price (e.g. Other Income)

      • Supplier Price (e.g Purchase Orders)

      • Costing Price (e.g. Work Orders)

      • Inventory Issue (e.g. Goods Issued)

      • Inventory Receive (Estimate) 

      • Inventory Receive (Actual) (e.g. Goods Received (WO))

   3. Select how to Resolve the item (i.e. what must happen to the item)

      • Receive

      • Issue

      • Order

      • Reserve

      • Purchase

      • Produce 

   4. Create a Category Filter (optional) - e.g. in (51,52,58,59,62,66,69,68)

5. Estimating (these fields are only applicable to costing transactions, and will generally not affect your accounting records)

   1. Choose which tabs to show from the dropdown list next to Visible Tabs:

      • None selected

      • Input

      • Costs

      • Description

      • Specification

      • Pricing

      • Update

   2. Select an Estimate Type (if they have been created).

   3. Select a Pricing option:

      • Cost Price (e.g. Quotation)

      • Sell Price

   4. Choose how to Resolve stock items by selecting an item from the dropdown list:

      • Receive

      • Issue

      • Order

      • Reserve

      • Purchase

6. Accounting 

   1. Check the Accounting checkbox if the transaction must appear in the Ledger and on the Financial Statements. 

   2. Select an option to set how the Transaction Type handles Currencies. The options are:

      • Local only

      • Company and Local (Show RoE)  (RoE = Rate of Exchange)

      • Company and Local (Edit RoE)

      • All Currencies (Edit RoE )

   3. Select a default VAT Type (Default) for this Transaction Type from the dropdown list.

      • The dropdown list will contain all the created VAT Types.

   4. Select whether the transaction amount will exclude or include VAT.

   5. Select whether this Transaction Type is the default for any of these transactions:

      • Customer Discount Allowed

      • Supplier Discount Received

      • Customer Overpayment

      • Supplier Overpayment

      • Customer Forex Loss

      • Customer Forex Gain

      • Supplier Forex Loss

      • Supplier Forex Gain

      • Purchase Orders

      • Supplier Invoice

      • Work Orders

      • Delivery Notes

   6. Select whether the Landing Costs must be Allocated From or Allocated To (e.g. Goods Received are Allocated To). 

   7. Select an Entity, if applicable.

7. Payment Schedule

   1. Tick a block to Use Payment Schedule (e.g. for Quotations).

   2. Select a Default Payment Schedule to create a Payment Schedule (Ideal for Projects).

      • Click the New (button) and capture the required fields. Continue to add until you have reached 100%.

8. Link to Item - Provides additional features to link items to transactions in the header. 

   1. Type in a Caption.

   2. Select a Position from the dropdown list:

      • Hide

      • Left

      • Centre

      • Right

   3. Refine the lookup list by creating a Category Filter -  e.g. in (51,52,58,59,62,66,69,68)

9. Options & Defaults - Tick the blocks to activate any of these features:

   1. Enable Versions - This allows a user to copy a transaction to a new version.

   2. Show Logout Button

   3. Update Calendar

   4. Use Events - Enables a user to select start and end dates on transactions.

   5. Use Images

   6. Use Item Tracking - Used for Serial Number & Batch Tracking.

10. Reference: 

    1. Type in a customised Caption for this field (used when the Reference field is not applicable and you require a custom field)

    2. Create a customised Lookup list for the Reference dropdown list in the transaction.

11. Text Fields 1, 2 and 3 are optional fields for you to create additional lookup items.

    1. Type in a Caption.

    2. Select a Position from these options:

       • Hide

       • Left

       • Centre

       • Right

    3. Create a customised Lookup list, if applicable.

How to Edit a Transaction Type

1. Navigate to Main Menu > Setup > Transactions.

2. Click Edit (button).

3. Click any entry and change the fields on the right (see above for more information on the fields).

4. Click Save (button).

How to Copy a Transaction Type

1. Navigate to Main Menu > Setup > Transactions.

2. Click Edit (button).

3. Right-click on the transactions and select: Copy to New Transaction Type.

4. Edit the new transaction type as required.

5. Click Save (button).

How to Delete a Transaction Type

1. Navigate to Main Menu > Setup > Transactions.

2. Right-click on the transactions and select: Delete Transaction Type.

3. Confirm the deletion on the pop-up.

   1. 1. • Note: Transaction Types that are in use cannot be deleted.

How to Setup Default Accounts for Transaction Types

1. Navigate to Main Menu > Setup > Accounting > Transaction Types (tab).

2. Click Edit (button).

3. Click a Transaction Type on the list to edit it.

   1. Select a VAT Type from the dropdown list of all created VAT Types.

   2. Select whether the Transaction Type should be part of Input or Output VAT by selecting an option from the dropdown list under VAT Control.

      • e.g. a Customer Invoice = + Output (Cr),  Customer Credit Note = - Output (Cr)

   3. Select a Dr Category. 

      • Note: This field limits the accounts that can be selected to that category when creating a transaction. Leave this field blank if any account can be selected.

   4. Select a Dr Account.

      • Note: This will force the Transaction Type to only debit that account when creating a transaction. Leave this field blank if any account can be selected.

   5. Select a Cr Category. 

      • Note: This field limits the accounts that can be selected to that category when creating a transaction. Leave this field blank if any account can be selected.

   6. Select a Cr Account.

      • Note: This will force the Transaction Type to only credit that account when creating a transaction. Leave this field blank if any account can be selected.

   7. Select a default from the dropdown list in the Default column, if applicable.

      • Note: Leave this field blank if none of the options on the dropdown list are applicable.

How to Find Transaction Type IDs 

1. Navigate to the Main Menu > Setup > Accounting >Transaction Types (tab).

2. Click the Field Chooser in the first column.

3. Select ID to display the number.