Update Standing Transactions

This process creates transactions that have been pre-defined using the Standing Transaction Maintenance form. Transactions of this type are usually pre-defined because they are periodic and repetitive.

Transactions are available to select for creation using this process based on the Frequency, Next Action Date and Start/End Dates of the standing invoice.

As transactions are created, Greentree advances the Next Action Date for each standing transaction to the next date, based on the Frequency and Frequency Type that is assigned to the standing transaction. Any changes to applicable tax rates are also made to the generated transactions and the standing transaction.

You can group standing transactions together using this form, and nominate a user-defined update log reference, so that you can recall the details of the update at a later time. You can also reverse the update/creation process.

Options Reference

Each option and field on the form is described below. Mandatory options and fields are highlighted in red.

Update log

Enter a unique reference for the update, which includes a date to indicate when the process was run. You can enter up to 20 alphanumeric characters.

Type

You can select GL Receipt, GL Payment, Journal, or All as the standing transaction types to include in the update process.

Action date

The default value is today's date but you can change it. The standing transactions available to select for creation will be based on this date and the Next Action Date for the invoice.

Update/Reverse

Click this button to run the update, or to reverse an update that has already occurred. If tax rates cannot be adjusted then the reverse will fail if a tax rate has changed. Resolve this by allowing manual tax rate changes on the tax code and reversing the standing transaction and then prevent manual tax changes.

Standing Transaction List

This table displays details of the standing transactions waiting to be created based on their next action date. To select the transactions for update, click the Selection box next to the transaction, or click the Select all/Deselect all options.

As you select standing transactions for update, they defaults to the Update From tab. You can Deselect the transaction before saving if you do not want to create the transaction.

Click the Save icon to run the process. The form displays details of the transactions that were processed.