Bill is a transaction you enter when you receive a bill from a vendor but want to pay it later. A bill will increase accounts payable and generally increase expenses. This is available in Essentials and Plus only.
Expense is a way to enter cash, check, or credit card purchases all in one window. (Note that you cannot print checks that were entered from the Expense window.)
Checks are a way to enter transactions that reduce your bank account. You can assign check numbers for manual checks or checks that have already been printed. Or you can set checks to print later and print them when you’re ready.
Bill payment is a transaction used to pay the bills entered. A bill payment reduces accounts payable and can be from a bank or credit card account. This is available in Essentials and Plus only.
A purchase order is a non-posting transaction used to tell a vendor you want to order goods or services. This is available in Plus only.
Vendor credit is used to record either a refund or return from a vendor that reduces accounts payable. This is available in Essentials and Plus only.
Credit card credit is a transaction that records a credit card refund from a vendor.