title
The
Reason Codes are used to provide a narration or description to a transaction
might be a change in the normal transaction.
Reason codes are standardized codes
that can be used in various transaction types or changes to field values to
provide background data about the transaction. For example, auditors or
managers frequently want to see reasons recorded for various transactions such
as reversals. A
reason code is a code that users can select to record the reason for a change,
such as a write-down adjustment or payment reversal.
Reasons
codes can be created that are specific to your organization. Users must select
reason codes only if the parameters for a module are set up to require them. The reason
codes can be for various types of transactions or other entries. Also a reason
comment can be entered in the same forms where reason codes are selected.
Reason comments are optional. Although one can set up default reason comments
for each reason code, this setup is not required. If a reason code is selected for
a transaction, the default comment that is set up in the reasons form for each
module is displayed in the Reason comment field. One can change the default
reason comment. If a reason comment is entered first and then a reason code is
selected, then reason comment will not be replaced.
When a standard reason codes is used instead
of transaction text, a guidelines is there for which codes to select from.
Standard reason codes also allow management and auditors to analyze transaction
history by specific reason.
Some examples of Reason Codes:
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Reason codes can be used with the
following:
§ General
Ledger
§ Accounts
Payable
§ Accounts
Receivable
§
Cash and Bank
§
Fixed Assets
How
to setup reason codes for financial modules?
Financial
reasons form is in Organization administration to create reason codes for a
variety of financial modules, or can be alternatively open a reasons form from
a specific module to set up reason codes for only that module. One can also
specify whether reason codes are required for a module, also can specify reason
code requirements in the parameters form for most modules.
Reason
codes through General ledger, do the following:
1.
Click
General ledger > Setup > Ledger reasons.
.
Click
New to create a
reason code.
3.
In
the Reason code field, enter a code for the reason.
4.
In
the Default comment field, enter a description for the code.
A reason code can be selected in the
following General ledger entry processes:
§
General
journal entry
§
Process
allocation requests§
Elimination
proposal§ Consolidation, Online
periodic
To
modify a Reason codes through General ledger, do the following:
1.
Click
General ledger > Setup > Ledger reasons.
2. Select the Reason Code to
modify.
3. Modify the Default Comment for the reason code.
4. Clear the Ledger check
box. As soon as the Ledger check box is cleared, the reason code
is no longer displayed in the General ledger transaction entry forms, and is
unable to be used.
To
delete a Reason codes through General ledger, do the following:
1.
Click
General ledger > Setup > Ledger reasons.
2.
Select
the Reason Code to be deleted.
3. Clear the Ledger check
box. You can delete a Reason code only if no account types are associated
with it. If the Reason code has been selected for use from another
module, clear the other Account type check boxes or view the Reasons form
from Basic to clear all Account type check
boxes.
5. Click the delete icon.
6.
Click
Yes in the Confirm
deletion dialog
box.
Reason
codes through Accounts payable, do the following:
1.
Click
Accounts payable > Setup > Vendors > Vendor reasons.
2.
Click
New to
create a reason code.
3.
In
the Reason code field, enter a code for the reason.
4.
In
the Default comment field, enter a description for the code.
Some
Examples of some Vendor Reason Codes:
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In
Accounts receivable, one can set up parameters to require reason codes when
transactions are reversed or canceled, or when return orders are posted. Thus
one can then view historical reasons in the Customer transactions and Voucher
transactions forms. Both financial
reason codes and return reason codes are used in Accounts receivable. One can
set up financial reason codes in either the Financial reasons form in
Organization administration or in the Customer reasons form in Accounts
receivable, and one can use them with free text invoices, reversals, and
cancellations. Also one can set up return reason codes in the Return reason
codes form, and can use them with return orders.
Reason
codes through Accounts receivable, do the following:
1.
Click
Accounts receivable > Setup > Customers > Customer reasons.
2.
Click
New to create a
reason code. As you can see that the Vendor Reason also displayed in this form,
just mark the check box if want to mark the same for Customer also.
3.
In
the Reason code field, enter a code for the reason.
4.
In
the Default comment field, enter a description for the code.
5.
To
require reasons for changes in Accounts receivable, select the appropriate
check boxes on the Reason code requirements FastTab in the General area of the
Accounts receivable parameters form.
6.
Click
Accounts receivable > Setup > Accounts receivable parameters.
Reason
codes through Cash and bank management do the following:
1.
Click
Cash and bank management > Setup > Bank reasons.
2.
Click
New to create a
reason code.
3.
In
the Reason code field, enter a code for the reason.
4.
In
the Default comment field, enter a description for the code.
5.
To
require reasons for changes in Cash and bank management, select the appropriate
reason code requirements check boxes in the General area of the Cash and bank
management parameters form.
6.
Click
Cash and bank management > Setup > Cash and bank management
parameters form.
Reason
codes through Organization administration, do the following:
1. Click Organization administration > Setup > Financial reasons.
2. Click New to
create a reason code.
3. In the Reason
code field, enter a code for the reason.
4. In the Default
comment field, enter a description for the code.
5. Select the
types of accounts that the reason code can be used with.
Whenever
a Fixed asset is entered into the system it need is complete description, it
require reason codes when specific asset transaction types are entered in
journals, or may require reason codes when the Sales value, Service life,
Depreciation periods, or Expected scrap value fields are modified in the Value
models or Depreciation books forms. Sometimes, it require a reason when one of
the field values changes, a Reason form is displayed when changes are saved,
and it must enter a reason before can close the Value models or Depreciation
books form. For example, A car accident caused the value of a car to decrease
from Rs. 8,00,000 to Rs. 5,00,000. So a write-down adjustment for Rs. 3,00,000
in the Fixed assets journal form is required, and say selected a reason code in
the transaction line called CARS (say). Now, when open the value model for the Car
and reduce the service life by one year, reduce the depreciation periods by one
period, and reduce the expected scrap value by 3,00,000. Because Fixed assets
is set up to require a reason code for changes to these fields, you are
prompted to select a reason in the Reason form when you save the value model.
Some
examples of Fixed Assets Reason Codes:
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Reason
codes through Fixed assets, do the following:
1.
Click
Fixed assets > Setup > Asset reasons.
2.
Click
New to
create a reason code.
3.
In
the Reason code field, enter a code for the reason.
4.
In
the Default comment field, enter a description for the code.
5.
Click
Fixed assets > Setup > Fixed assets parameters.
6.
Click
Fixed assets.
7.
On
the Reason codes FastTab, specify options for reason codes:
To require that users enter a reason
for changes to the
a. service life,
b. depreciation
periods,
c. expected scrap
value, or
d. sales value
for a fixed asset, select the Require reasons for asset changes check box.
8.
To
require that users enter a reason for a specific fixed asset transaction that
is entered in a journal, select the transaction types and then click the arrow
buttons to move the transaction types from the Not required list to the
Required list.
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