Information systems that process data generated from business transactions are known as transaction processing systems or TPS. reports may have be produced immediately to provide standard summarization of transaction and transaction may be moved from process to process in order to handle all aspect of business activity. Transaction processing system (TPS) automate the handling of data about the business activities or transactions ,which can thought activities or transactions, which can be thought of as a simple ,discrete events in life of a organization.ĭata about each transaction are capture, transaction are verified and accepted or rejected and validated transaction are stored for later aggregation. Checks are needed for the conformance of the transaction with the rules set the business. It becomes very important for the person who is designing the transaction processing system to have thorough knowledge of rules, policies and guidelines of the business enterprise and should keep options open in the system to make exceptions and adjustments or to a more rules or alterations in the rules. These rules are checked at the entry level and if any one rule is not satisfied or there is deviation from the policies and the guidelines that are set the transaction are kept under till further corrections are carried out and if it is not possible to carry out corrections and the transaction is rejected totality. these rules ,policies and guidelines act bring in some degree of ease in process of the transactions. in case the transaction does not confirm to the rules then corrective action needs to be taken and the matter should be reported to the proper authorities.Įvery transaction should be securitized and scrutinized for their adherence to the business rules and the data values should also checked to be ensured their corrections the settings of the rules ,policies and guidelines are the propogative of the management and the statutory authorities and are subject to change as need is felt of there its change in the regulations set by the statutory authorities.
There are business rules policies and guidelines that are set by the management of the business enterprise and by statutory authorities and every transaction have to be abide and follow these rules, policies and guidelines is a must. The data that is generated has been processed and we are need to process it the transaction is being processed there are some rules and regulation need to be followed for transaction to the rules are described below We have seen in above article starting transactions are now we will describe how transactions work or process and the rule that govern it. These types of transactions are taking place on continuous basis in a business enterprise on the other hand business enterprise is meant for transaction. Let us study a normal business transactions where a company sells a product to a customer online using e-commerce.ĭata about the customer ,payment mode and details of payment ,product details need to be captured and processed this needs to be done along with these needs to be captured and processing needs to with transaction documents additional transactions are also triggered like adjustment in the inventory ,customer database creation of invoice and updating of accounts. We have transaction taking place in sales ,purchase ,payments being made and received ,deposits received and made refunds being issued and received and withdrawals all these are transactions and are very base of the existence of the business enterprise. There are many transactions that occur in the business organizations and are taking phase on a continuous basis on all fronts in business entry. transactions normally involve money worth. In the normal course doing business there are many events which take place in transactions are events which involve two or more parties one being the business entity. Today all the application we are using are based on Transaction processing system from your e-banking toe railway booking this article describes Transaction processing system in detail.
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