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Defining Bank Transaction Codes. Transaction codes represent the various bank transactions you will use in the Accounts Payable and Accounts Receivable applications. You define transaction codes for types of payments, such as checks or bills of exchange, or for bank services, such as deposits or service charges.
1 Transaction privilege tax (TPT) a tax on the privilege of doing business in Arizona. 2  Much like sales tax in the rest of the country, TPT is collected by merchants and remitted back to the state based on a percentage of a sale.xample: You live and run your business in Sedona, AZ, in the 86336 zip code. The sales tax rate in Sedona is made up of the 5.6 % Arizona sales tax rate, the 1.3 % Coconino County rate and the 3% Sedona rate, for a total of 9.9 %.