The verb transact is almost always used with the word "business." To transact business is to conduct it, as when a shopkeeper sells groceries to a customer.

All kinds of business owners and workers transact business, just by following their usual routines of selling, buying, investing, trading, or anything else they do to carry out their work. Shoppers also participate in transacting business — a purchase can also be called a transaction. The Latin root word, transactus, means "to drive through or accomplish."

Definitions of transact
  1. verb
    conduct business
    transact with foreign governments”
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    deal, sell, trade
    do business; offer for sale as for one's livelihood
    turn over
    do business worth a certain amount of money
    do business with a bank or keep an account at a bank
    sell or promote the sale of (illegal goods such as drugs)
    black marketeer
    deal on the black market
    use or deal in (as of stock or commercial transaction) in a pyramid deal
    deal in a market
    hawk, huckster, monger, peddle, pitch, vend
    sell or offer for sale from place to place
    type of:
    act together or towards others or with others
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