Database Design - One table for different types of transactions

Question

Considering a procurement system as an example. Would it make sense to have one single table for the following: Quote, Order, Invoice and Credit Memo?

There will be some details that are different. For example each list will have its 5 special fields but the other say 50 fields would be exactly the same. Would it make sense in this case to join all tables in a single one. And some fields are unused for some types.

I can see that Navision system does something like that in its database. It uses one table, but then splits into separate tables once the items are posted. I think this may be for performance reasons because the posted items can tend to become very large. & splitting into separate tables would speed up queries. But this is just my thinking.

So my main dilemma is ... what is the recommended approach in such case: 1 table or separate tables? what are the pros and cons of each? What are the business considerations to take into account?

Thanks for your help!