3.2 Flow of Events of Transaction Processing

This topic provides information on flow of events of transaction processing.

For more information on Stages of Transaction Processing, refer the below table.

Table 3-2 Stages of Transaction Processing

Stage	Description
Unauthorized Stage	The transaction is first initiated into the system database when it is entered into the Transaction Detail screen for the required transaction type. In this screen, it is saved as an unauthorized transaction, which means that it is not reflected in the system’s financial data stores as yet. The transaction is given a unique identification called the Transaction Number. During this unauthorized phase of the transaction, you can edit the details of the transaction as many times as is deemed necessary, using the Edit operation through the Transaction Summary screen. The transaction number is not changed when you edit a transaction. An unauthorized transaction can only be edited by the user who initiated it into the system. Due to various reasons, the supervisor can also reject transactions. Any such rejected transaction can also be edited.
Authorized Stage	When the transaction is authorized, the value of the transaction will be reflected in the system database. The user who enters the transaction in the system cannot authorize it. A user other than the one that entered the transaction can perform authorization. When a transaction is authorized, the authorizer must re-enter the transaction amount or number of units, which was specified for the transaction during transaction entry. When this is successfully done, the transaction can be authorized. The events that take place when you authorize a transaction can be understood from the Table 3-3 table.
Amendment Stage	After authorization, changes to a transaction request can only be made through an amendment. You can no longer edit the transaction through the Transaction Summary screen. You must choose the Amend menu option. Therefore, amendments are operations that you can perform only on authorized transaction records. The amendment facility is not available for the Unblock type of transactions. You can amend an authorized transaction: Before the units in respect of the transaction have been allocated. After the allocation of units in respect of the same Within the default amendment period specified in the Defaults Maintenance Subsequently, the amended transaction must be authorized again for it to be effective. The authorization of an amended transaction can be done only from the Fund Manager module. Note: Once a transaction is amended and the amendment has been subsequently authorized, it cannot be amended again.
Allocation of Transactions	Once a transaction is authorized, the units in respect of it must be allocated to the concerned unit holder. The unit holder’s balance holdings in the system database must reflect the changes due to the acquisition or the sale of units due to the transaction. The allocation processes in the system perform this function. To understand how allocation is performed, refer the topic Allocation in Fund Manager User Manual. Allocation can be performed in any (or all) of the following three ways: For information on fields in the Allocation of Transactions, refer the Table 3-4 table.

Table 3-3 Flow of events of Authorized Stage

Online Allocation facility	Mode of Payment	Check / Credit Card / Transfer allocations on par with cash	Upon Authorization	Allocation of Units
Available	Cash	-	Confirmed units allocated	Confirmed units allocated upon authorization
Available	Check / Credit Card / Transfer	Available	Provisional Units allocated	Provisional Units allocated upon authorization, confirmed units on the date on which the check / credit card / transfer instrument is cleared in the system
Available	Check / Credit Card / Transfer	Not Available	No allocation at authorization	Confirmed units are allocated only on the date on which the check / credit card / transfer instrument is cleared in the system
Not Available	Cash	-	Units allocated by End of Day processes on the date of authorization	Units allocated by End of Day processes on the date of authorization
Not Available	Check / Credit Card / Transfer	Available	Provisional Units allocated by the End of Day processes on the date of authorization	Provisional Units allocated by the End of Day processes on the date of authorization, confirmed units on the date on which the check / credit card / transfer instrument is cleared in the system.
Not Available	Check / Credit Card / Transfer	Not Available	No allocation at authorization	Units allocated by End of Day processes on the date on which the payment instrument is cleared in the system “*” – as designated in Transaction Processing Rules for the fund.

Table 3-4 Allocation of Transactions

Field	Description
Online Allocation	The allocation is performed at the time the transaction is authorized, i.e., simultaneously with authorization. This is true for amended transactions for which the amendment is authorized, too. The online allocation is only possible if it is designated as available in the Transaction Processing Rules for the fund.
Allocation by the End of Day processes	All transactions that have been entered and authorized on a given business day will be automatically allocated by the End of Day processes that are performed at the installation for that business day.
Allocation through the Menu	You can also manually trigger the allocation for a transaction through the corresponding menu item in the End of Day menu category in the Fund Manager component. You can use this facility to perform allocation for transactions involving payment instruments, on the clearing date. Note: If the application is offline, you can capture the transaction through web service only if there is an entry for that function ID entry in GWTMS_ AVAIL OPERATIONS table.