How to delete or cancel a deal/transaction

Created by Erik Åkerlund, Modified on Fri, 15 Sep, 2023 at 8:39 AM by Elin Stenrud

Performing cancellation leads to a total removal of underlaying transactions within TS and does not create any reversal bookings that can be exported into an ERP-system. Therefore, please note that if accounting earlier has been exported  corrections might needs to be entered manually in your ERP system. 

 

Status of the deal in TS will be shown as “Cancelled” and the transaction tab will be empty after you have performed actions described below. The update of status to cancelled will be shown in “view deal events” together with registered reason for cancellation. Cancellations can´t be reverted. 


Keep notice if there are underlaying deals with same deal ID such as a Interest rate swap, Loan with a Calculated fee, or Credit facility with a Utilisation fee the cancellation procedure differs. You can either cancel one deal part e.g. (only the added calculated fee) or all deal parts (both the loan and the calculated fee). See the 2 options below 

 

Cancel deal part

“Cancel Deal part” can be used to cancel one deal part (ex FX deals or loans without any added fees). 



To cancel/delete one dealpart:

  1. Open the deal 
  2. Click on icon “Cancel Deal Part” (marked in red in picture below)
  3. Enter reason for the change
  4. Click “OK”
  5. New window comes up that shows all events etc that are cancelled/removed in TS. 


Delete all deals 

This procedure is used when one deal has several different underlying dealparts with same deal ID. Ex IRS (Interest Rate Swap) or loans such as credit facilities with connected utilisation fee(s) or multiple loan deals where deals has been added via “add fee” or recurring fee. 



To cancel/delete all Deals:

  1. Open the deal 
  2. Click on icon with 3 dots and choose “Change deal status” (see picture below)
  3. Enter the reason for the change
  4. Choose action “Cancel All deals”
  5. Click “OK”
  6. New window comes up that shows all events etc that are cancelled/removed in TS. We recommend that You either take a prt scrn of this or print it out as a pdf and keep as track-record if changes needs to be done in Your ERP-system. 



When done with this procedure status is changed to cancelled, and is shown in all the deal menys (see picture below).


The following permissions are needed for “Cancel deal part” and “Cancel all deals”

Cancel confirmed deal
Cancel modified deal
Cancel new deal
Delete coding
Modify transaction
Modify deal
Modify transaction
Revert bank account reconciliation
Revert payment
Remove accounting
Undo exported accounting
Undo approved accounting

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