Review Open Transactions - 24a
Purpose: Use this document as a reference for how to review Open Transactions
Audience: Finance Staff
Asset Open Transaction Review and Processing
Asset management records any kind of action that may generate an accounting entry related to an asset as an Open Transaction. These include things like asset additions, retirements, adjustments, and recategorizations.
The Open Transaction Review Screen
Navigation: Main Menu > Asset Management > Depreciation > Open Transactions > Review
- Open Transactions are listed on this screen and have three statuses that indicate their overall processing completeness:
- Depreciation Calc Status – Indicates whether Depreciation Calculation has been run for a particular Open Transaction. Open Transactions must go through Depreciation Calc before being processed further.
- Acctg Entry Creation Status – Indicates whether the Open Transactions has been picked up by the Create Accounting Entries process in AM. Create Accounting Entries must be run before an Open Transactions can be picked up by Journal Generation.
- Reporting Process Status – AM stores asset depreciation and cost information is separate reporting tables. The Load Reporting Table processes must be run for an Open Transaction before it will be reflect in reports or queries generated off those reporting tables.
- You can use these statuses to filter out a subset of Open Transactions for review.
- First, search for any transactions where the Depreciation Calc Status = Pending Depreciation. If any are found, run the “Depreciation Calculation” process.
- Next, search for transactions where the Acctg Entry Creation Status = Pending Distribution. If any are found, run the "Create Accounting Entries" process.
- Lastly, search for transactions where the Reporting Process Status = Pending. If any are found, run the Load Reporting Tables processes.