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Introduction

Financial aka Posted Transactions

Unposted Transactions

Non-financial Transactions

Transaction Types Summary

Introduction

There are 2 main transactions: 

	Financial - transactions that are “posted to accounts” to create a debt or credit (return premium) that is "posted" to the client's account.
	Non-financial - can be transactions that are intentionally left "unposted" and also can be specific transaction types that do not create a debt or credit to the client’s account.

Financial aka Posted Transactions

To create a financial transaction, you generally get to the end of the appropriate wizard and find a Post to Accounts button. For example, in the Invoice Generation page of a Transaction wizard or the Post page of the Receipts & Allocations wizard. Posting to accounts finalises (no changes can be made) the update as an active transaction for the client and places the debt/credit on their account for payment/refund.

 NOTE: Nil endorsement(s) are still considered a financial transaction - yes, even if a zero ($0.00) amount is posted.

Unposted Transactions

Unposted transactions are created by NOT selecting the Post to Accounts button and instead using the other options available such as a combination of "Exit", then "Save" or selecting "Save & Go to Summary". This means your update has been saved, however, it is NOT finalised and you can return to it at a later date to make changes. As it is not finalised, no documents are produced and the transaction is not considered an active or live transaction.

Once the update is ready for finalisation, proceed with selecting Post to Accounts or if the update is not required, you can proceed with deleting the unposted transaction.

Non-financial Transactions

Specific transaction types are designed to have no debt associated when creating the transaction. For example, instead of finding a Post to Accounts button for a Lapse transaction type, you'll instead find a Lapse button. For a Quote or Renewal Invitation transaction type, you'll find a Create Documents button. For a Take Up transaction type, you'll find a Take Up policy button.

These transaction type examples will create an active transaction, however are designed to not affect the client's account. 

Transaction Types Summary

The following table contains the different transaction types and indicates whether they are Financial or Non-financial transaction types, as well as which interfaces (Manual, SCTP, Sunrise) you can process them in: