1. Loan Servicing Setup Guide
  2. Administration User
  3. General Ledger
  4. General Ledger
  5. Transaction Definition

3.7.1.3 Transaction Definition

The Transaction Definition screen enables you to define GL transactions and to associate the Debit and Credit segments for each GL Transaction.

In GL Transactions sub screen, the Transaction Code column contains GL transactions defined by the client team. The Segments section contains a Debt and Credit section. These are both detail segments.

To setup Transaction Definition
  1. Click Setup > Setup > Administration > User > General Ledger > Transaction Definition.
  2. In the GL Transactions section, perform any of the Basic Operations mentioned in Navigation chapter.
    A brief description of the fields is given below:

    Table 3-58 GL Transactions

    Field Do this
    Transaction Code Specify unique GL transaction code.
    Description Specify description for the GL transaction.
    Product Type Specify the product type.
    Backdated Txn Specify the back dated transactions.
    Product Specify the product.
    Status Specify the status.
    Enabled Check this box to enable the transaction.
    Attribute 5 Specify the header attribute 5.
    Attribute 6 Specify the header attribute 6.
    Attribute 7 Specify the header attribute 7.
    Attribute 8 Specify the header attribute 8.
    Attribute 9 Specify the header attribute 9.
    Attribute 10 Specify the header attribute 10.
  3. Perform any of the Basic Actions mentioned in Navigation chapter.
  4. In the Segments section, perform any of the Basic Operations mentioned in Navigation chapter.
    A brief description of the fields is given below:

    Table 3-59 Segments

    Field Do this
    Sort Seq Specify the sort sequence (optional).
    Enabled Check this box to enable the segment.
    Debit section
    Debit ACC # Select the segment value from the drop-down list.
    Branch Select the segment value from the drop-down list.
    Segment #3 Select the segment value from the drop-down list.
    Segment #4 Select the segment value from the drop-down list.
    Segment #5 Select the segment value from the drop-down list.
    Segment #6 Select the segment value from the drop-down list.
    Segment #7 Select the segment value from the drop-down list.
    Segment #8 Select the segment value from the drop-down list.
    Segment #9 Select the segment value from the drop-down list.
    Segment #10 Select the segment value from the drop-down list.
    Credit section
    Credit ACC # Select the segment value from the drop-down list.
    Branch Select the segment value from the drop-down list.
    Segment #3 Select the segment value from the drop-down list.
    Segment #4 Select the segment value from the drop-down list.
    Segment #5 Select the segment value from the drop-down list.
    Segment #6 Select the segment value from the drop-down list.
    Segment #7 Select the segment value from the drop-down list.
    Segment #8 Select the segment value from the drop-down list.
    Segment #9 Select the segment value from the drop-down list.
    Segment #10 Select the segment value from the drop-down list.
  5. Perform any of the Basic Actions mentioned in Navigation chapter.

    As mentioned in the Attributes Definitions screen section, the system can support up to 10 header segments.

    Each transaction can be mapped to one or more GL accounts using the segment mapping section. A segment number can be a natural account or can be a derived segment. In case of a natural account, you need to select the segment value (from the list of predefined segments).

    Entering DERIVED in the Segment Number field instructs the system to look for the derived value from the segments defined in the Segments Definition section on the Translation Definition screen.

    Let’s take an example:

    Company: ABC BANK

    Transaction Code: ADV

    Description: ADVANCE

    Product Type: FUNDING TRANSACTION

    Branch: CB-001

    Segment #1: 200000

    Segment #2: DERIVED

    Let’s assume segment #2 is derived from the branch where the account belongs. While calculating the account number, the system interprets segment #2 as follows:

    The system will look for a segment value for segment #2 for the account in question using the branch of the account (CB-001). It will use the segment value it finds, say HQ. This will be segment value for segment #2.

    IMPORTANT: The derived segment logic can be used for all segments except for the one designated as the natural account segment.

    CAUTION: Please note that the logic for calculation of the derived segments is customized for each client. You will need to contact Oracle Financial Services Software inc. in case you want to change the logic or add new derived segments.

    “Best Match Feature” for General Ledger (GL) Transactions

    The system provides the functionality wherein for each monetary transaction, you can generate entries in the General Ledger (GL) based on the setup. For a single transaction (for example, a late charge), the system allows GL entries to be generated based on different criteria regarding the loan account (for example, product type, product, status, and so on). A late charge entry for one product type can differ from a late charge entry for a different product type.

    For example,

    Assume you have set up the following four late charge fee GL transactions based on product and status.

    Table 3-60 GL Transactions section

    Transaction Code Description PRODUCT STATUS
    FLC_A LATE CHARGE Product 1  
    FLC_AA LATE CHARGE Product 1 ACTIVE
    FLC_B LATE CHARGE Product 2  
    FLC_BB LATE CHARGE Product 2 ACTIVE

    For a late fee for an ACTIVE account for a Product 1, Oracle Financial Services Lending and Leasing will process the GL Transaction FLC_AA. However, if the late fee is for a CHARGED OFF account for a Product 2, Oracle Financial Services Lending and Leasing will process the GL Transaction FLC_B.

Parent topic: General Ledger