Transaction reports always display transactions that took place during a specific period of time. The main difference between Basic and Financial Option Transaction Reports is the level of detail included
| □ | Basic Transaction Reports show each transaction at the most basic level (the type of transaction, the associated account, and the amount of the transaction as a whole). So a payment transaction in a Basic Transaction Report would show up as one line with the account and the amount of the payment. It would not show how the payment was applied/broken down. This is a great report for seeing just the checks or payments you have received during a given time period. NOTE: Basic Transaction Reports are NOT affected by filters. |
| □ | Financial Option Transaction Reports show each transaction at the highest level of detail (the type of transaction, the associated account, the specific financial option the transaction was associated with, and the amount applied to that specific financial option). So the same payment transaction mentioned above would show up as multiple lines with each line as an allocation of part of that payment toward a specific financial option. NOTE: Financial Option Transaction Reports are affected by filters. |
| □ | The easiest way to understand this is with an example: |
On, 1/1/2006, John Doe made a $1,000 payment for his two kids, Bobby and Susie.
Here is how this same transaction would be treated in each of the transaction reports:
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