The Transaction Reports are product-based reports that itemizes the transactions, like payments and refunds, that occurred with your product.
Transaction Reports vs. Product Profit Reports
While Product Profit reports show the payments and refunds per products, the Transaction reports breaks it down and itemizes it at the transaction level.
Transaction Reports vs Sales Reports
Transaction reports are preferred by accounting departments over Sales Reports as the true per-month/time period income and expenditure are reported.
For example, lets say that in December you sold $100,000 of orders. Then in January you processed $5000 worth of returns.
Transactions are identified by 2 types:
Important: Debits and credits can have both positive and negative values depending on the type of account they are impacting: