Transaction Type Summary

Modified on Mon, 10 Feb at 10:52 AM

The following is a list of the transaction types available in KEYinfinity which can be entered either via the Entries screen or the respective Daybook.

The short code is used in most areas of the application.

Transaction Type	Short Code	Notes
Sales Invoice	SI	Use sales invoices when you want to send a copy of the invoice to your customers and keep track of your debtors. You should also post invoices if you are on invoice based VAT to ensure that you are reporting your VAT in the correct period.
Sales Credit Note	SC	Use sales credit notes when you want to send a copy of the credit note to your customers and keep track of your debtors. You should also post credit notes if you are on invoice based VAT to ensure that you are reporting your VAT in the correct period.
Sales Receipt	SR	Sales receipts allow you to post monies received from your customers to pay invoices which you have issued. The sales receipt also allows for the allocation of outstanding invoices and credit notes to clear a ledger.
Purchase Invoice	PI	Use purchase invoices to post invoices received from your suppliers and keep track of your outstanding creditors. Purchase invoices can also be printed to raise a self-bill invoice. You should also post invoices if you are on invoice based VAT to ensure that you are reporting your VAT in the correct period.
Purchase Credit Note	PC	Use purchase credit notes to post credit notes received from your suppliers and keep track of your outstanding creditors. Purchase credit notes can also be printed to raise a self-bill credit note. You should also post credit notes if you are on invoice based VAT to ensure that you are reporting your VAT in the correct period.
Purchase Payment	PP	Purchase payments allow you to post monies paid against your supplier invoices. The purchase payment also allows for the allocation of outstanding invoices and credit notes to clear a ledger.
Bank Receipt	BR	A bank receipt can be used when no invoice has been raised or if you do your accounts and VAT on a cash basis. For example, bank interest received.
Bank Payment	BP	A bank payment can be used when no invoice has been raised or if you do your accounts and VAT on a cash basis. For example bank interest paid.
Bank Transfer	BT	Bank transfers are used to move monies from one bank account to another.
Journal	JN	Journals are used to make internal adjustments to your accounts. For example, posting a fuel scale charge adjustment for the portion of irrecoverable VAT.