A Transaction refers to a single monetary event of an organisation eg. a payment, a sale, a purchase etc. These transactions are then summarised to create system generated reports.
Accounting transactions consists of the following type of entries:
- Invoice
- Receipts
- Payments
- Contra
- Journal
- Debit Note
- Credit Note
- Advance Receipt
Inventory transactions consists of the following type of entries:
- Purchases
- Sales
- Purchase Returns
- Sales Returns
- Stock Journal