Accounting Dates

The Accounts Payable module derives accounting dates in the following ways:

• When an open item is recorded, the accounting date is defaulted from the document date, but may be overridden manually.
• For manual and on-account payments, the accounting date is based on the payment date entered by the user.
• For batch payment creation, the accounting date is based on the system date or any valid date entered by the user.
• For void payment transactions, the accounting date is entered by the user.
• For post payments transactions, the system date is used as the accounting date.

The accounting date must fall within the valid range of accounting dates listed on Reference File category 201 for the following conversations:

Invoice Debit/Credit Memo Entry
Open Item Maintenance
Recording Manual Payment
Manual Payment Entry
Void Payment  Entry
Payment Creation Selection
Batch Open Item Creation

Accounting date validation will prevent you from entering or changing a transaction in a posted period.  The range of valid accounting dates are stored on the AP Company/Location Defaults, Reference File category 201.  If the automatic update flag on this category is set to 'Y', then the earliest valid accounting date on this category will be automatically updated during the AP Final Post.  The earliest accounting date will still be maintainable on the reference file; however, it cannot be less than the current value and more than the last period posted end date.

For on-account payments, a new accounting date must be entered on the Manual Payment Entry header screen.  This date will allow traceability of the various applications of an on-account payment and will be validated against the accounting dates listed on Reference File category 201.  The new accounting date cannot be less than the original accounting date entered on the payment header.  Payment application records and accounting transactions generated by the application of an on-account payment will contain the new accounting date.