Definition:
A Custom Transaction have different type of transaction types designed to meet specific business requirements. It allows us to track data that is not available in standard transactions. Additionally, we can decide at which point the impact should be created in the General Ledger.
Enable Features: SuiteCloud -> Suite GL -> Custom Transactions.
Navigation: Customization -> Lists, Records and Fields -> Transaction Types.
Type of custom transaction types:
We have an option of 5 custom transaction type.
Basic: Users enter a series of debits or credits to specified accounts, with a balancing account identified in the transaction type’s Account field. Posts to GL.
Journal: Users manually record debits and credits to specified accounts, including elimination subsidiaries. Posts to GL.
Header only: Users don’t manually enter accounts; a Custom GL Lines plug-in calculates the GL impact. Does not post to GL until Custom GL plug-in.
Sales: Users create transactions like invoices or cash sales, including inventory impact, taxes, and revenue recognition. Posts to GL.
Purchase: Users create vendor bills, with functionality like items, expenses, amortization, taxes, and inventory impact. Posts to GL.
Posting into GL:
Under the Statuses subtab, you can enter the status and check the Posting checkbox for the corresponding status to create the GL impact when the transaction reaches that status.