This section describes how to modify an existing financial event in the system.

Overview

You can adjust the details of a financial event to ensure it accurately reflects your accounting requirements. This includes changing descriptions, ledger assignments, and VAT applicability.

To edit a financial event, go to Setup > Accounting > Financial Events, highlight the specific Financial Event you wish to modify, and then click Edit Financial Event.

Financial Event Fields

The following fields can be edited for an existing financial event:

• Event Number: This field displays the system-assigned unique number for the event (up to 999,999,999). While displayed, this number typically cannot be changed. This is a required field.
• Description: Provide or update a clear and descriptive name for the event. This is a required field.
• Transaction Description: Enter or modify the standard description that will appear on the ledger's transaction entry whenever this event is recorded. This is a required field.
• Dr (Debit): Select the ledger account that should be debited for transactions using this event.
• Cr (Credit): Select the ledger account that should be credited for transactions using this event.
• Event Attribute: Choose the appropriate Event Attribute (Source Attribute) from the dropdown list. This attribute is essential as it identifies the type of transaction being recorded, helps the system group similar transactions, and identifies the correct events for specific functions. This is a required field.
• Force Reference Number: Select this option if you want to make the reference number a required field when recording transactions using this specific event.
• VAT Applicable: Check this box if VAT applies to this event. When selected, VAT will also be recorded. Remember that VAT is only recorded on the ledger leg (either debit or credit) where a specific VAT Type has been defined (not "None"). The Input/Output VAT type is set up in the Ledger's configuration, and the VAT percentage must be specified in the Accounting General Setup.

RealPay Payout Integration Specifics

If the financial event is used for RealPay Payout Integration, ensure the following details are correctly set:

• Event Number: This will display the system-assigned number (up to 999,999,999). This is a required field.
• Description: Provide a descriptive name for the event. This is a required field.
• Transaction Description: Enter a standard description that must appear on the ledger's transaction entry when this event is recorded. This is a required field.
• Dr (Debit): Select the ledger that must be debited.
• Cr (Credit): Select the ledger that must be credited.
• Event Attribute: From the dropdown list, ensure Payment to Client Bank Account is selected.
• Force Reference Number: Select this option if you want to make the reference number a required field when transactions are recorded using this specific event.
• VAT Applicable: Select this option if VAT is applicable. When selected, VAT will be recorded only on the ledger (either the debit or the credit leg) where the VAT Type has been specified. Do not create events where both the debit and credit legs have VAT Types set to "None". The Input/Output VAT is specified during the Ledger setup, and the VAT percentage must be specified in the Accounting General Setup.

Buttons

• Save: Click this button to permanently store your changes to the financial event.
• Cancel: Click this button to discard any changes and return to the previous screen without saving.