Types of Transactions
A transaction in EMS can be any of the following types:
Transaction Type |
Description |
---|---|
Deposit |
A deposit is the dollar amount paid in advance of a meeting or event before invoicing occurs.
|
Payment |
A payment is the dollar amount that is applied to an invoice to reduce the balance due. A pre-payment is similar to a deposit and is applied to a reservation. |
Adjustment |
An adjustment is a modification that is made to the amount due on an existing invoice. For example, if you send out an invoice to a group for $202.00 and the group sends you a check for $200.00, you can make an adjustment of “$2.00-” to close out the invoice. |
Refund |
A refund is the return of funds that have been applied to an invoiced reservation. |