Transaction Types
The transaction type is designed to inform the financial transaction ledger on the type of financial movement that the entry represents. Built-in transaction types include ‘Recognition’, ‘Renewal’, ‘Addition’, etc.
During a reporting period, an asset component may have six (6) renewal transactions, two (2) depreciation transactions, and one (1) upgrade transaction posted against it. The end of period report (the Temporal Finance Report) will sum the six (6) renewal postings, the two (2) depreciation postings, and the one (1) upgrade postings as the summary of movements for that component during the reporting period.
Transaction Type Effects
Each transaction type is assigned to a transaction type effect of ‘Gross’ and/or ‘Accumulated Depreciation’. When the Temporal Finance Report is generated, the movement results are summed into these transaction type allotments.
Restrictions can be applied to transaction type posting values such as ‘Positive Values’ only, or, ‘Negative Values’ only. This can assist with controlling end user input around expected movement behaviour in terms of capital value. For example, the built-in depreciation transaction type has a restriction of ‘Negative Values’ only because depreciation is always and only ever a decrement to an asset components carrying value.
Transaction Type ID
The transaction type ID is the only way to make a valid reference to a transaction type from external locations such as API calls or CSV Data Imports. Once a transaction type has been created, the ID value (which will remain constant regardless of alterations) can be found in the ‘Code’ column of the transaction type preview table.
