There are several types of transactions in accounting, including:

Sales transactions: These occur when a company sells goods or services to customers.

Purchase transactions: These occur when a company buys goods or services from suppliers.

Cash transactions: These include cash received from customers, cash payments to suppliers, and cash withdrawals by the business owner.

Bank transactions: These include deposits, withdrawals, and electronic transfers made through a bank account.

Asset transactions: These include the purchase or sale of fixed assets such as land, buildings, and equipment.

Liability transactions: These include the incurrence of debt, such as loans and mortgages, as well as payments made on those debts.

Owners' equity transactions: These include the investment of capital by the owner and the distribution of profits to the owner.

Journal entries are used to record these transactions in the general ledger.

Adjusting entries are made at the end of an accounting period to update the accounts for items such as depreciation, prepaid expenses, and accruals.