Transaction
Defining transaction categories.
In this section, we will discuss the procedure in creating and editing Transaction Categories.
General Configuration
Setting up transactions conforms with the method in which other general configurations are done in Mobiloan
As a reference on how to use the screen layout to add and edit transactions, refer to the General Configurations section.
System Transactions
Lookout for transaction categories distinguished by the light-blue font colour in the Table of Transactions.
These are system transactions that cannot be deleted or edited as it is regarded as functional data.
Training Video
Transaction categories group the transactions that your business will facilitate according to a specified Transactor and Transaction Class;
Transaction Classes
Transaction Classes are categories by which all transactions will be derived from. A transaction in Mobiloan, will either be one of the following:
Asset
Liability
Expense
Transfer
Income
Transactor
The Transactor is the person / entity that will complete the transaction. In Mobiloan, any new transaction Category will be limited to the following Transactors:
Agent
User
Supplier
Client
Cashbox.
Adding a new transaction category.
To do this, the user is required to specify the following details pertaining to the new transaction category:
A relevant name.
The Transaction class.
The Transaction flow; which is limited to either "Money IN" or "Money OUT".
The Transactor
The screenshot below depicts the New Transaction Category screen...
Supporting document.
If the new transaction category requires a supporting document to validate the transaction, select "Required" option from the list of choices, otherwise set as Optional" or "None".
Item description
Sometimes a generic transaction name is not sufficient for descriptive purposes. Selecting the "Require Item Description" toggle , will allow the user to require from other users to capture a more detailed description of the cashflow item.
Editing an existing Transaction
Simply select an existing transaction category from the table of transaction categories. This will
Top Tip
We at Modality recommend that business owners map their existing cash flow items and distil them into a generic list.
The reason for this is that you wouldn't want to end up with hundreds of similar options as this would make trend analysis and aggregation rather difficult.
Simple is always better and if you're uncertain, a handy place to start would be to add a transaction category for each of the items currently noted in your detailed income statement in your financial statements
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