You can set up each agent ledger transaction type once, with its own earning or deduction setting, account, default amount and default description. When you pick that type on a new transaction, those details fill in for you, and you can still change any of them. This saves re-typing the same charges for every agent, every pay cycle, and stops a charge being recorded as a payment by mistake.
This article covers who can set up transaction types, how to configure one, and what happens when you use it on a transaction.
Who Can Set Up Transaction Types?
🔒 To add, edit or delete transaction types, you need the Chart of Accounts manage privilege. If you only have access to value lists, you'll see the transaction type list as read-only.
❗ Please Note: If you used to maintain this list and can no longer edit it, ask your Rex admin to give you the Chart of Accounts manage privilege, or ask someone who manages your chart of accounts to update it.
How Do I Set Up a Transaction Type?
- Go to Settings > Custom Values & Mailing Lists > Value Lists.
- Select Agent Ledger Transaction Category.
- Click Edit on an existing type, or add a new one.
- Fill in the details:
- transaction type name (required) - the name you'll pick in the Type field.
- earning or deduction - whether this type pays the agent or charges them.
- default chart of account - the account the transaction posts to.
- default amount - a typical amount. Enter it as a positive number. The earning or deduction setting decides whether it's added or taken away.
- default description - the description that fills in on the transaction.
- Click Save.
❗ Please Note: Only the name is required, but we recommend always setting earning or deduction, especially for charges like desk fees. That's what sets the direction on the transaction for you.
For charges that vary from agent to agent, set the earning or deduction and the account, but leave the default amount blank.
What Happens When I Use a Transaction Type?
- Go to Financials > Agent Ledgers, open the agent's ledger and click Add transaction > Add Transaction.
- Pick your transaction type in the Type field.
- Earning or deduction, Amount (inc GST), Description and Account fill in with your defaults. GST Free is set from the account's tax type.
- Change anything you need to, then click Add to Ledger.
This works the same way when you add a transaction during a pay run, in Step 2.
- Only the fields you've set up fill in. If a type has no default amount, for example, the amount is left for you to enter.
- Your changes are kept. If you type something and then pick a different type, anything you've typed yourself isn't overwritten.
- Typed-in types still work. If you type a type that isn't on the list, the transaction still saves, but nothing fills in.
For more on adding transactions, see - Adding a Transaction.
Does Changing a Type Change Old Transactions?
No. A transaction type works like a template when you add a transaction. Changing a type's defaults, or renaming it, doesn't change transactions you've already saved.
How Do I Delete a Transaction Type?
Click Delete on the type and confirm. It will no longer be available on new transactions. Transactions that already used it keep their type.
❗ Please Note: A deleted type can't be restored. To use it again, you'll need to add it and set it up again.
The Merge option isn't available on this list, because merging would lose the type's settings. Other value lists still have Merge.
❓ FAQs
I picked a type and nothing filled in. Why?
That type hasn't been set up yet. Your existing types are already on the list by name, but they won't fill anything in until you edit them and add their defaults.
Why can't I edit the transaction type list any more?
You need the Chart of Accounts manage privilege. Ask your Rex admin.
Do I need to re-create my existing transaction types?
No. They're already on the list. Just click Edit on each one to add its defaults.
I set up a deduction type but the direction didn't fill in. Why?
Check the type has earning or deduction set. It's optional, so a type saved without it won't set the direction.
Can I change the amount on a single transaction?
Yes. Every field stays editable, so you can change the amount, description or account, or even save a deduction type as an earning for a one-off credit.
Does this work for settlement payouts or Xero deduction imports?
No. Transaction type defaults only apply when you add a transaction using the Add Transaction window.