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on 2013 Oct 14 8:54 AM
Kindly clarify the following query:
What is the difference between posting date and Document Date.
if the date on a bill is 01.10.2013 and i will be entering in the system on the 14.10.2013. Which will be my posting date and how will it impacct the accounts.
Also where will i find "entry date" on the system and what is its relevance. .
Please reply as soon as possible.
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if the date on a bill is 01.10.2013 and i will be entering in the system on the 14.10.2013
Posting Date should be 14.10.2013 and document date should be 01.10.2013.
This best practise, but if your company having the practise to closing the period on every month then finance person have to decide the posing date either 01.10.2013 or 14.10.2013.
my posting date and how will it impacct the accounts
For example, company receive phone bill for the month of September on 30sep13 but you entering it on 02-oct13.
If you put the Posting date as 02-Oct-13 your expenses will increase on Oct month.
If you put the posting date as 30sep13 company expense will increase on September month accounts.
This decision have to taken by your client finance manager. but I suggest to follow the best practise.
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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. This is the date which determines which fiscal year and period that the transaction will be posted into.
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Document Date - Date of the supporting document ie PO/
invoice/ Bill date
Posting date - date on which entry is posted to the ledger
or accounting date
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Active ContributorPosting Date : Dates that determines in which 'Posting Period' a document or a Journal Entry is added to the database.
Document Date : Date that indicate when the shipment of goods take place.
Posting date: The date on which the document is posted to the Database
Document Date: The date on which the document is created. The might be created on 15/10/13 but still can be posted on 17/10/13
Delivery date : Appears in documents other than Invoices. This is the date on which the goods are to be received form the vendor from the purchase point if view, while it is the date on which the goods are to be delivered to the customer form the sales point of view.
