Finance Reporting - Transaction Types
- Richard Turnbull
Below is a list of the various transaction types used on Finance Journals, useful when reporting.
Transaction (Tx) Types | Definition |
Sale | Sale - a sale (DR or +) of a service to a customer (revenue) |
CreSale | Credit Sale - a credit (CR or - ) of a sale where the sale transaction has been reversed or reduced for any reason (often curtailments or cancellations) |
Disc | Discount - a reduction of the gross sale amount (offered to the Student and visible to the Student) |
ADNet | Agent Discount Net - a reduction of the gross sale amount (offered to the Agent and not visible to the Student) - for when the Agent is paying a net invoice |
ADGrs | Agent Discount Gross - a reduction of the gross sale amount (offered to the Agent and not visible to the Student) - for when the Student is paying Gross. This amount is paid in the form of a commission. |
Pay | Payment - an amount paid out for example, to a supplier (such as a homestay provider) or to a student for a refund |
Rec | Receipt - an amount received in from a customer to pay for their course/accommodation etc. |
ADGrsR | Agent Discount Gross Reversal - for when the agent discount gross is manually reversed |
ADNetR | Agent Discount Net Reversal - for when the agent net net is manually reversed |
DiscR | Discount Reversal - for when the discount is manually reversed |
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