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Transaction Status and Lifecycle Reference

Transaction Status and Lifecycle Reference

Overview

This guide will help you choose the correct action for a record based on whether it is new, saved, approved, finalized, converted, settled, closed, cancelled, reversed, or otherwise completed.

You select a valid next action without repeating a completed transition or editing around dependencies.

Who can do this

You need access to View access to status/history; transitions require workflow-specific authority.

Before you start

Identify the source record, current status, downstream records, physical/external effects, period, and intended business outcome.

Before saving, check that the correct company is open and that you have permission to complete this task.

Where to find it

Open the record through its Inquiry/history and inspect status plus linked documents.

Transaction Status and Lifecycle Reference

Step 1: New/unsaved: no durable record is assumed

Step 2: Saved/draft/open/initiated: a record exists but may not have final stock/account/external

Saved/draft/open/initiated: a record exists but may not have final stock/account/external effects.

Step 3: Approved/finalized/posted: consequential effects may exist and correction must preserve them

Step 4: Converted/fulfilled/settled/closed: inspect the linked target/payment/receipt/close record

Step 5: Cancelled/reversed: preserve original and reversal; exclude only according to report

Cancelled/reversed: preserve original and reversal; exclude only according to report rules.

Step 6: Rejected/failed/unknown: classify local and external outcomes before retry

Check your work

Take a moment to check your work before closing the window. This small check can save time later.

If something goes wrong

  • Save and Finalize are not interchangeable.
  • Never infer failure from a missing success message alone.

What to do next

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