diff --git a/src/contexts/TxMeta/defaults.ts b/src/contexts/TxMeta/defaults.ts
index b28d55c730..e67951f8c1 100644
--- a/src/contexts/TxMeta/defaults.ts
+++ b/src/contexts/TxMeta/defaults.ts
@@ -6,22 +6,22 @@ import BigNumber from 'bignumber.js';
 import type { TxMetaContextInterface } from './types';
 
 export const defaultTxMeta: TxMetaContextInterface = {
-  controllerSignerAvailable: (a, b) => 'ok',
-  txFees: new BigNumber(0),
-  notEnoughFunds: false,
-  setTxFees: (f) => {},
-  resetTxFees: () => {},
   sender: null,
   setSender: (s) => {},
+  txFees: new BigNumber(0),
   txFeesValid: false,
-  incrementPayloadUid: () => 0,
+  setTxFees: (f) => {},
+  resetTxFees: () => {},
+  notEnoughFunds: false,
   getPayloadUid: () => 0,
   getTxPayload: () => {},
   setTxPayload: (p, u) => {},
+  incrementPayloadUid: () => 0,
+  resetTxPayload: () => {},
   getTxSignature: () => null,
-  resetTxPayloads: () => {},
   setTxSignature: (s) => {},
+  pendingNonces: [],
   addPendingNonce: (nonce) => {},
   removePendingNonce: (nonce) => {},
-  pendingNonces: [],
+  controllerSignerAvailable: (a, b) => 'ok',
 };
diff --git a/src/contexts/TxMeta/index.tsx b/src/contexts/TxMeta/index.tsx
index c5491a2cfe..bb52ad3744 100644
--- a/src/contexts/TxMeta/index.tsx
+++ b/src/contexts/TxMeta/index.tsx
@@ -49,10 +49,18 @@ export const TxMetaProvider = ({ children }: { children: ReactNode }) => {
     uid: number;
   } | null>(null);
   const txPayloadRef = useRef(txPayload);
+  const getPayloadUid = () => txPayloadRef.current?.uid || 1;
+  const getTxPayload = () => txPayloadRef.current?.payload || null;
 
   // Store an optional signed transaction if extrinsics require manual signing (e.g. Ledger).
   const [txSignature, setTxSignatureState] = useState<AnyJson>(null);
   const txSignatureRef = useRef(txSignature);
+  const getTxSignature = () => txSignatureRef.current;
+
+  // Set the transaction signature. Overwrites any existing signature.
+  const setTxSignature = (s: AnyJson) => {
+    setStateWithRef(s, setTxSignatureState, txSignatureRef);
+  };
 
   // Store the pending nonces of transactions. NOTE: Ref is required as `pendingNonces` is read in
   // callbacks.
@@ -64,18 +72,7 @@ export const TxMetaProvider = ({ children }: { children: ReactNode }) => {
     accounts: [sender],
   });
 
-  const senderBalances = getBalance(sender);
-
-  const resetTxFees = () => {
-    setTxFees(new BigNumber(0));
-  };
-
-  const getPayloadUid = () => txPayloadRef.current?.uid || 1;
-
-  const incrementPayloadUid = () => (txPayloadRef.current?.uid || 0) + 1;
-
-  const getTxPayload = () => txPayloadRef.current?.payload || null;
-
+  // Set the transaction payload and uid. Overwrites any existing payload.
   const setTxPayload = (p: AnyJson, uid: number) => {
     setStateWithRef(
       {
@@ -87,23 +84,12 @@ export const TxMetaProvider = ({ children }: { children: ReactNode }) => {
     );
   };
 
-  const resetTxPayloads = () => {
+  // Removes the transaction payload and uid from state.
+  const resetTxPayload = () => {
     setStateWithRef(null, setTxPayloadState, txPayloadRef);
   };
 
-  const getTxSignature = () => txSignatureRef.current;
-
-  const setTxSignature = (s: AnyJson) => {
-    setStateWithRef(s, setTxSignatureState, txSignatureRef);
-  };
-
-  const txFeesValid = (() => {
-    if (txFees.isZero() || notEnoughFunds) {
-      return false;
-    }
-    return true;
-  })();
-
+  // TODO: Remove controller checks once controller deprecation is completed on chain.
   const controllerSignerAvailable = (
     stash: MaybeAddress,
     proxySupported: boolean
@@ -127,6 +113,7 @@ export const TxMetaProvider = ({ children }: { children: ReactNode }) => {
     return 'ok';
   };
 
+  // Adds a pending nonce to the list of pending nonces.
   const addPendingNonce = (nonce: string) => {
     setStateWithRef(
       [...pendingNoncesRef.current].concat(nonce),
@@ -135,6 +122,7 @@ export const TxMetaProvider = ({ children }: { children: ReactNode }) => {
     );
   };
 
+  // Removes a pending nonce from the list of pending nonces.
   const removePendingNonce = (nonce: string) => {
     setStateWithRef(
       pendingNoncesRef.current.filter((n) => n !== nonce),
@@ -143,7 +131,19 @@ export const TxMetaProvider = ({ children }: { children: ReactNode }) => {
     );
   };
 
-  // Refresh not enough fee status when txfees or sender changes.
+  // Utility to reset transaction fees to zero.
+  const resetTxFees = () => {
+    setTxFees(new BigNumber(0));
+  };
+
+  // Utility to increment payload uid to maintain unique ids for payloads.
+  const incrementPayloadUid = () => (txPayloadRef.current?.uid || 0) + 1;
+
+  // Check if the transaction fees are valid.
+  const txFeesValid = txFees.isZero() || notEnoughFunds ? false : true;
+
+  // Refresh not enough funds status when sender, balance or txFees change.
+  const senderBalances = getBalance(sender);
   useEffectIgnoreInitial(() => {
     const edReserved = getEdReserved(sender, existentialDeposit);
     const { free, frozen } = senderBalances;
@@ -155,24 +155,24 @@ export const TxMetaProvider = ({ children }: { children: ReactNode }) => {
   return (
     <TxMetaContext.Provider
       value={{
-        controllerSignerAvailable,
+        sender,
+        setSender,
         txFees,
-        notEnoughFunds,
+        txFeesValid,
         setTxFees,
         resetTxFees,
-        txFeesValid,
-        sender,
-        setSender,
-        incrementPayloadUid,
+        notEnoughFunds,
         getPayloadUid,
         getTxPayload,
         setTxPayload,
-        resetTxPayloads,
+        incrementPayloadUid,
+        resetTxPayload,
         getTxSignature,
         setTxSignature,
+        pendingNonces,
         addPendingNonce,
         removePendingNonce,
-        pendingNonces,
+        controllerSignerAvailable,
       }}
     >
       {children}
diff --git a/src/contexts/TxMeta/types.ts b/src/contexts/TxMeta/types.ts
index 5e8ae70697..b9dea49042 100644
--- a/src/contexts/TxMeta/types.ts
+++ b/src/contexts/TxMeta/types.ts
@@ -5,25 +5,25 @@ import type BigNumber from 'bignumber.js';
 import type { AnyJson, MaybeAddress } from 'types';
 
 export interface TxMetaContextInterface {
-  controllerSignerAvailable: (
-    a: MaybeAddress,
-    b: boolean
-  ) => 'controller_not_imported' | 'read_only' | 'ok';
-  txFees: BigNumber;
-  notEnoughFunds: boolean;
-  setTxFees: (f: BigNumber) => void;
-  resetTxFees: () => void;
   sender: MaybeAddress;
   setSender: (s: MaybeAddress) => void;
+  txFees: BigNumber;
   txFeesValid: boolean;
-  incrementPayloadUid: () => number;
+  setTxFees: (f: BigNumber) => void;
+  resetTxFees: () => void;
+  notEnoughFunds: boolean;
   getPayloadUid: () => number;
   getTxPayload: () => AnyJson;
   setTxPayload: (s: AnyJson, u: number) => void;
-  resetTxPayloads: () => void;
+  incrementPayloadUid: () => number;
+  resetTxPayload: () => void;
   getTxSignature: () => AnyJson;
   setTxSignature: (s: AnyJson) => void;
+  pendingNonces: string[];
   addPendingNonce: (nonce: string) => void;
   removePendingNonce: (nonce: string) => void;
-  pendingNonces: string[];
+  controllerSignerAvailable: (
+    a: MaybeAddress,
+    b: boolean
+  ) => 'controller_not_imported' | 'read_only' | 'ok';
 }
diff --git a/src/hooks/useSubmitExtrinsic/index.tsx b/src/hooks/useSubmitExtrinsic/index.tsx
index 7f67d67013..e87287f4e0 100644
--- a/src/hooks/useSubmitExtrinsic/index.tsx
+++ b/src/hooks/useSubmitExtrinsic/index.tsx
@@ -40,7 +40,7 @@ export const useSubmitExtrinsic = ({
     getTxPayload,
     getTxSignature,
     setTxSignature,
-    resetTxPayloads,
+    resetTxPayload,
     incrementPayloadUid,
   } = useTxMeta();
 
@@ -193,7 +193,7 @@ export const useSubmitExtrinsic = ({
     };
 
     const resetTx = () => {
-      resetTxPayloads();
+      resetTxPayload();
       setTxSignature(null);
       setSubmitting(false);
     };