Question: What are the different transaction types used in the Accounts Receivable module and how are they used?
Answer: The following table summarizes the different transaction types:
Type |
Description |
Invoice |
This type is created when an invoice, debit memo, or credit memo is posted to accounts receivable. |
Deposit |
This type is created when a customer payment is entered in Deposit Entry. |
Apply |
This type is created when a customer payment is applied in Payment Apply or Open Item Apply and Resolve. |
Chrgbck |
This type is created when a chargeback is created in Payment Apply or Open Item Apply and Resolve. |
Discount |
This type is created when a cash discount is applied in Payment Apply. |
Absorb |
This type is created when an absorption is entered in Payment Apply or Open Item Apply and Resolve. |
OnAcct |
This type is created when a payment is left on-account in Payment Apply. |
Writeoff |
This type is created when an accounts receivable transaction is written off in Payment Apply or Open Item Apply and Resolve. |
Finchrg |
This type is created when a finance charge accounts receivable transaction is created in Finance Charge Apply. |
Cash |
This type is created when a miscellaneous (non-customer) deposit is entered in Deposit Entry. This is the type used for the cash account into which it was deposited. |
Misc |
This type is created when a miscellaneous (non-customer) deposit is entered in Deposit Entry. This is the type used for the general ledger accounts to which it was distributed. |
NSF |
This type is created in Non Sufficient Funds Reverse Deposit Entry. This is the amount of payment that was returned for non-sufficient funds (NSF). |
NSFChg |
This type is created in Non Sufficient Funds Reverse Deposit Entry. This is the additional amount being charged to the customer for processing/late fees associated with an NSF payment. |
NSFForex |
This type is created in Non Sufficient Funds Reverse Deposit Entry. This is the amount of any currency exchange gain/loss from an NSF transaction. |