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Slide notes: Every Journal has a Transaction Date, and although it is normal for the Transaction Date to fit logically within the selected Financial Period for posting, it can also fall outside the Financial Period, and for good reason, as we shall see.

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Slide notes: The Transaction date should reflect the true date for the Transaction, irrespective of the posting Period. The Transaction Date can always be changed, and when the default is not the true Transaction Date, then it should be changed.

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Slide notes: In fact, IES will always record 2 Dates for a Journal. There is always a Transaction Date, as captured, and there is also a Capture Date. So, even though today may be the 11th October, we can post the Transaction for the 1st of October, as shown here. The Capture date will still be recorded as today, i.e. 11th October.

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Slide notes: When we look at the Help for the Transaction Date Field, it is explained that the Transaction Date can be critical in some cases, and therefore it is important to use the correct Transaction Date, even if it falls outside the posting Period. Tax Rules and Interest calculations are good examples of cases where the system will look at the Transaction Date rather than the posting Period as the indicator for correct calculation of Tax or Interest.

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Slide notes: When we drill any Transaction in the Financial System, we can always ascertain the Capture Date when the Journal or Transaction was captured, as well as the Transaction Date, which is the official Date for the Transaction.

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Slide notes: Date positioning of a Transaction is directed by the choice of Transaction Date, which reflects the true Date of the Transaction event, in the Accounting sense.