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  • AR Transaction Type
  • nishitD
  • 2015-05-12 10:27:47
AR Transaction Type controls the document follow of all transactions such as invoice, debit memo, credit memo, etc. Transaction type specifies the nature of the document, the customer account to update and provides account default for journal entry. Transaction Types can also be used to default other information (such as payment term, ledger) to new transactions.


Transaction types are used for defaulting information for both manual and system generated transactions. You can associate transaction types with receivable transaction sources to simplify the manual transaction entry process.

AR transaction types are business unit specific data and cannot be shared across different business units.
If you want to auto-generate sales invoices after sales order shipment then you need to provide a default AR transaction type to the corresponding sales document type used for creating the sales order.

You can create, view or update any existing AR Transaction by navigating to Accounts Receivable -> Setup -> AR Transaction Type. To create a new transaction type/or update an existing transaction type, enter below information as applicable for the transaction type and then save the data.

AR Transaction Type Id:
A unique system generated number. You can’t modify this number.

BU Name:
Select the business organization name. You can default the business organization name from the business organization profile.

Ledger:
Ledger defaults from the business organization.

Transaction Type:
Enter a name for the transaction type. This is a free field of 25 characters.

Transaction Class:
Select a transaction class for the transaction type. Example of transaction classes are Invoice, Debit Memo, Credit Memo, etc.

Description:
Enter any comment /remark in the description field.

Status:
You can inactive a transaction type by using inactive status. By default all transaction type are active.

Invoice Type:
Select a default Invoice type. System uses the default invoice type to default data if any data in the primary transaction type is incorrect or missing.

Credit Memo Type:
Select a default credit memo type; Applicable only for an invoice transaction class.

Payment Term:
Select payment term to default for the transaction type.

Accounts:
Select receivable, revenue, tax and other accounts.
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