Supersede Financial Transactions

The user starts this activity within the context of a Financial Transaction Set. This activity prepares the Financial Transaction Set for subsequent financial processing by marking the financial transactions that are not required for the financial message creation process within the Generate Financial Message activity as Superseded. This is done because when multiple versions of the financial transactions for which the financial message has not yet been created are present for a Base Financial Object, only the more recent financial transactions for them are required to be processed to generate the financial message.

The superseding is performed within the context of the Base Financial Objects of the identified transactions. All the financial transactions for the base financial object that were not handled by the 'Generate Financial Message' activity, up to the highest version included in the financial transaction set are considered for supersede. The highest version included in the financial transaction set is considered the most recent version for a Base Financial Object for this process.

If a previous (to the highest) version of the financial transaction and its corresponding reversal financial transaction exists in the set, then the financial transaction and its reversal financial transaction are marked as not required to be part of the financial message and thus they are considered as superseded. This is done by setting the Indicator Superseded on the Financial Transaction Process Data record for these financial transactions.

It is also possible that a previous financial transaction version is needed for the financial message generation, which can be achieved by setting the Indicator Financial Message Mandatory on the Financial Transaction Process Data record of the financial transaction to 'Y'. These financial transactions and their related reversal financial transactions (if they exist) are then not superseded.

After successful completion of the activity for a Base Financial Object, the status of the Base Financial Object is updated from 'Changed' to 'Supersede and Reversal Done'. The general financial processing completed date time is set to the system date and time on which the base financial object level processing is completed.

Note that this activity also needs to be executed for financial transactions of type Fee even though they will never be superseded, because they don’t have multiple versions. The status and the general financial processing completed date time on the related Base Financial Objects need to be updated/set, so they can also be picked up by the 'Generate Financial Message' activity.