Overview

Every transaction has an effective date which controls the period the transaction posts to in both General Ledger and its own module.

The effective date entered is used to obtain the posting period and year and, optionally, the tax period, by reading the Calendar table.

For example, a calendar used for financial periods is set up as follows:

If you entered an effective date of 10/05/09, the system uses the calendar table to determine in which financial period the date falls. In this case, it falls within period 02. Therefore, the posting period and year for this transaction is 02/09.

Each ledger has system keys to control the periods that can be posted to.

Note: If your system is set up to use Enhanced Transaction Tracking, the effective date and the invoice date must be the same in the following:

• Accounts Receivable Invoices
• Sales Order Entry & Invoicing (SOP) Invoices
• SOP Credit Notes
• SOP Invoice/Credit Print
• SOP Credit Reclaims
• SOP Credit Reclaim Print

Exchange Rates

If an exchange rate is required, the system will use the effective date (once an effective date has been accepted) and the year/period information derived from it to calculate the exchange rate.

Transaction, Item or Batch level?

System keys SLCONTPOST and PLCONTPOST define the level at which Accounts Receivable and Accounts Payable control account postings are made.

The system keys have three possible settings:

• TRANSACTION
  1. When posting to the General Ledger, each transaction will have its own control account entry.
  2. The transaction reference, as well as the batch reference, will update the General Ledger Transaction table for each control account entry.
  3. The effective date for each transaction will be taken from the individual items.
• BATCH
  1. The postings will be summarised on a batch and period/year level.
  2. When posting to the General Ledger, the effective date for a control account posting is determined by system key SLCONTEFF / PLCONTEFF.
• ITEM
  1. The postings will be summarised on a cash item basis.
  2. The effective date for each transaction will be taken from the individual item.