In Ardex Premier Transaction has a different meaning from the ordinary accounting meaning of the term. When a horse is charged for a product or service this is known as a Transaction. Normally at the end of each month the month end wizard will convert transactions to tax invoices issued to individual horse owners, in accordance with horse ownership share.
Tax invoices generated are then summarised on Owners Statements issued, and become accounts receivable in the system. An Owners Statement will be the primary financial document a horse owner relies on to know what payments are due for the care of horses in which he or she has an ownership interest.