A.2.26.1 Processing with Combination of Transaction Parameters
Refer to the below table to know how system processes the rescission transaction with the combination of above parameters.
Table A-113 Rescission Transaction to Void Account
| PROCESS MASTER ASSOCIATED ACCOUNTS | PROCESS SAME SALES ORDER ACCOUNTS | PROCESS SAME AGREEMENT NUMBER ACCOUNTS | PRIORITY |
|---|---|---|---|
| N | N | Y |
Transaction is posted to accounts which are having same agreement number. If there is no Agreement # found on account where this transaction is posting, system displays an error. |
| N | Y | N | Transaction is posted to accounts which are having same Sales Order number. |
| Y | Y | Y | Transaction is posted to accounts based on Process Master Associated Accounts parameter ignoring the other two parameters. |
| Y | N | N | Transaction is posted to accounts based on Process Master Associated Accounts parameter. |
| Y | Y | N | Transaction is posted to accounts based on Process Master Associated Accounts parameter ignoring the Process Same Sales Order Accounts parameter. |
| Y | N | Y | Transaction is posted to accounts based on Process Master Associated Accounts parameter ignoring the Process Same Agreement #Accounts parameter. |
| N | Y | Y | Transaction is posted to all those accounts having same Sales Order number and same Agreement number. |
Click Post.
On posting the transaction, system posts REVERSE ACTIVE transaction along with following changes:
- Account status is marked as VOID in Transaction History > Transactions tab
- Corresponding Application status is marked as VOID
- All the Good Transactions on to the account are reversed.
A comment is posted on rescission account in the format RESCINDED ON <DATE> FOR THE <REASON> AND <COMMENT>.
Note:
If rescission transaction is posted on Traded accounts, system automatically performs certain actions on existing (old) account and new accounts. For more information, refer to Trade Reversal/Rescission and Charge-off of Account section in Appendix: Trading of Accounts chapter.Parent topic: Rescission Transaction to Void Account