Drake Accounting - Transaction Types

Article #: 15135

Last Updated: October 18, 2024

 


Tags: Drake AccountingDAS

Drake Accounting logo

Overview

There must be at least one selection for a transaction type in order to get the full functionality of Accounts Receivable (AR).

  • Choose from :

    • Sales type (SA, SN, SS, BB, ST, SCH, CS) - chosen to create an invoice in AR Invoices.

    • Reverse sales type (RE, RN, RS,RBB, RST, RSCH, RCS) - chosen to reverse an invoice in AR Invoices.

    • Payments type (PA, PPA, RPAY, RPPA, RPST, PST) - to make a payment in Payments or in Invoices on the fly.

    • Write off type (BD, RBD) - to write off a payment in AR Payments.

    • Credit type (CR, RC, AD, RAD, RCR) - to issue a credit to an account in AR Payments.

    • Early payment type (EP, REP) - if you want to grant an early payment discount in AR Payments.

    • Penalized type (PN, RPN) - to assess a penalty in AR Payments.

    • Service Charge type (SC, RSC) - to make a service charge in AR Payments.

    GL Account Setup Screen

All transaction types that will be used must be assigned a debit and credit account in order to keep the Chart of Accounts in balance.