A transaction type identifies the purpose of a transaction. Many transactions (both recurring and non-recurring) that you enter for customers require a transaction type. The most common transaction type is “rent.” Other examples could include utilities (such as “electricity,” “gas,” “water,” and “cable TV”), agency charges (such as “work order” or “clean-up” fees), or other charges (such as “interest,” “late fee,” or “NSF fee”).
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