The document date will be the date on the invoice. It is the date used for aging purposes, and used to calculate the due date (based on the terms) and the date used for calculating discounts. The Posting Date is the date that will be used to post the transaction in the GL.
What is a posting date in accounting?
The post date is the day, month, and year when a card issuer posts a transaction and adds it to the cardholders account balance. It is the date on which funds are taken or added to an account. Also called the settlement date, the post date can be on the same day as the transaction date.
What is a post dated invoice?
A: While entering an AP invoice, there is the option to enter an invoice and posting date: Invoice Date – refers to the date for the actual invoice, This is used to determine the due date. The payment terms use this date to determine the due date and discount period. Post Date is used for releasing to General Ledger.
Can I post date an invoice?
Many people ask us if we can issue an invoice that is dated a few days before or after we would normally do so. An invoice/receipt is requested in the desired month and customers are even prepared to pay early. Unfortunately, for both offline and online buyers, this is not possible.
What is the entry date?
A: Entry date is the date when the user saves the transaction in the. system. Transaction date is the effective date that the user specifies on the transaction.
What date should an invoice be?
Delivery date is the date in which the service was provided (or completed), or when goods were delivered to the customer. If the delivery date does not coincide with the issue date of the invoice, then it is important that the two dates are clearly indicated on the invoice.
What does it mean when a payment is posted?
Posted transactions are purchases that have cleared on your card and the funds have been deducted. There might be some pending transactions that are more or less than the amount you actually spent.
Is it legal to forward date invoices?
WHAT ABOUT IF MY CUSTOMER IS OKAY WITH IT? Date the invoice with todays date and allow them to simply pay the invoice early. There is nothing illegal about paying early, but falsifying documents is a crime.
What is transaction effective date?
In contract law, the effective date is the date that an agreement or transaction between or among signatories becomes binding. For an initial public offering (IPO), it is the date when shares can first be traded on an exchange.
What does start date mean on job application?
Start date, in its simplest form, is whenever someone starts working. This is the first day an employee can be paid. However, to be paid, employees must fill out the appropriate paperwork as forementioned. An employees start date is also the important date for beginning benefits.
What should be the invoice date?
Invoices should have dates to clarify obligations for both the issuer and recipient. The invoice date is the date of the documents issue -- not necessarily the date the products or services were provided. Terms of payment are interpreted in relation to this date.
What is future invoice?
Definition: Future Invoices. An invoice is flagged by AMS360 as future based on the setting of a field in Agency Setup, the Number of Days to Invoice in Advance of the Invoice Effective Date. When an invoice is posted, the Invoice Effective Date is compared to the Current System Date.