About Financial Transactions

Financial transactions are created in the system whenever an object generates a cost transaction. For example, the posting of a timesheet or other direct charges can create a financial transaction. Authorized users can access this accounting log at any time to review transactions.

Users can navigate to the Financial Transaction portal and search for financial transactions according to the corresponding work order, activity, creation date, status, and so on.

Financial transactions are automatically frozen upon creation and the transactions that created them, sibling transactions, are finalized. For example, a material issue or a timesheet detail are considered the siblings to the financial transactions that they created. Once frozen, a financial transaction and its details are ready to be interfaced to the general issues. The system does not depend on batch processing to transition financial transactions between states. Instead, a batch GL interface program extracts frozen financial transactions and creates a flat file.

If there happens to be any accounting setup issues or other issues, a financial transaction will enter an error state until an authorized user adjusts the configuration or other source of the issue. Refer to the Administrative User Guide for more information. The error state allows any sibling transactions to continue and complete without being affected by the related transaction which is in error.

Refer to the Understanding Financials section in the Administrative User Guide for configuration guidelines.