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December 11, 2019 - By Bredet Services

The most common reason for having the document date be different from the posting date is because the fiscal period that the document date falls into may be locked.  However, the invoice still needs to be paid within the correct terms, therefore it is very important that you don’t change the document date to suit and open fiscal period.

Document Date:

This is the date that will be on the invoice.  It is the date that is used for aging purposes, to calculate the due date (based on the terms) and the date used for calculating discounts.

Posting Date:

This is the date that will be used to determine the fiscal year and period that you would like the transaction to be posted in. This is also the date that would be used in any revaluation process so that the foreign exchange entry will go to the same year and period as the original transactions.

 

Within AP Setup  Options  Transactions Tab you will find where you can set the default to ether batch date, document date, or session date.

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