Account Payable (AP) & Account Receivables (AR) Invoice Type

There are 9 types of Invoices in AP :

• Standard : Standard invoices are the invoices issued by a supplier to the buyer, representing the amount due for the products or services the supplier has provided to the buyer 
• Credit Memo : Credit memo is an invoice raised by the supplier to the buyer with negative amount. It reduces the supplier balance and reduces the liability.
• Debit Memo : Debit memo is an invoice raised by the customer to supplier with negative amount.
• Prepayment : Prepayments are the invoices raised to record advance payments to a supplier or employee.
• Withholding Tax : After you apply withholding tax to an invoice, you can optionally create invoices to remit withheld tax to the tax authority ,Payables can automatically create withholding tax invoices, or you can perform this task manually.
• Mixed Invoice: Mixed invoices are the invoices which can have either positive or negative amounts and can be matched to both purchase orders and invoices.
• Expense Report : Expense reports are the invoices that represent amount due to an employee for all his business related expenses.
• PO Price Adjustment : PO Price Adjustment Invoices are used for recording the difference in price between the original invoice and the new purchase order price.
• QuickMatch : Used for quick, high-volume invoice entry for invoices that do not require extensive validation and defaults.

There are 6 types of Invoice in AR :

• Invoice,
• Credit Memo,
• Debit Memo,
• Chargeback,
• Deposit and
• Guarantee.