Transaction Types

Accounting rules determine how project transactions are translated into entries that are sent to the general ledger. Transaction types define generic transactions that are used to define an accounting rule.

Transaction rows that belong to the transaction type are assigned to a general ledger account based on an accounting rule. By defining transaction types in a separate table, you save time and reduce errors when you define accounting rules.

Standard transactions involve moving money from one account to another within the same general ledger business unit. Intercompany transactions involve moving money from an account in one general ledger business unit to an account in another general ledger business unit. Additional transaction rows are required for intercompany transactions.