Preparing Financial Transactions for Information Lifecycle Management Adoption
The Financial Transaction (CI_FT) table has been updated and several processes are now available to help you prepare and update eligible historical financial transactions so you can implement, in a future release, Information Lifecycle Management (ILM) techniques to manage that data (e.g., partitioning).
- Financial Transaction (CI_FT) table updates:
- Two new fields, ILM Archive Switch and ILM Date, have been added to support implementing lifecycle information management techniques to manage eligible historical financial transactions
- For new financial transactions, ILM Date is set to the financial transaction’s creation date when a financial transaction is created and ILM Archive Switch is set to "N".
- For upgrading implementations and to update existing financial transactions, refer to the Tips and Considerations section for setting the ILM Date and ILM Archive Switch.
- Two new fields, ILM Archive Switch and ILM Date, have been added to support implementing lifecycle information management techniques to manage eligible historical financial transactions
- Background processes:
- Mark FTs Redundant for Balance Forward Accounts (C1FTRDBF) batch control: Updates historical financial transactions of service agreements, on balance forward accounts, to be marked as redundant when, together with other historical financial transactions on the same service agreement, their balance sums to zero.
- Mark FTs Redundant for Open Item Accounts (C1FTRDOI) batch control: Updates historical financial transactions to be marked as redundant for balanced match events where all associated financial transactions are considered sufficiently aged.
- ILM Crawler - Financial Transaction (C1-FTCRL) batch control: Reviews historical eligible financial transactions and updates their ILM Archive Switch to "Y" when they meet the following criteria:
- Marked as redundant.
- ILM Date is before the retention period (the period that a record is considered active).
- Associated adjustment, bill segment, and/or payment segment has been marked for archiving or has been archived.
This, in a future release, will help you reduce your storage-related costs by allowing you to move redundant financial-related data to lower-cost storage tiers or by archiving that data according to your business rules and compliance needs.
Steps to Enable
To enable and configure this feature, refer to the Information Lifecycle Management (ILM) section of the Administrative User Guide for more information.
Tips And Considerations
Due to the volume of financial transaction data that may exist, it is recommended you limit and stagger the number of financial transactions to be processed when running each of these processes. Refer to the detailed description for each batch control for further information.
- For upgrading implementations, use the Update FT ILM Fields (C1-FTUPD) batch control to update the ILM Date of applicable financial transactions with their creation date and set the ILM Archive Switch to "N". Applicable financial transactions are those where both the ILM Date and ILM Archive Switch are null or empty. For further details, refer to the detailed description for the batch control.
Access Requirements
System administrators should review and determine which user groups should be granted access to one or more of these application services:
- Mark FTs Redundant for Balance Forward Accounts (C1FTRDBF)
- Mark FTs Redundant for Open Item Accounts (C1FTRDOI)
- ILM Execution Application Service (C1-ILM)
- Upgrade Batch Thread Instance Date / Time (F1-BTIDT) application service on Update FT ILM Fields (C1-FTUPD) batch control