GENERIC SETUP VARIABLE: AFFECT DATE STYLE

Organizations that are using the Affect Date feature (software bundle 25 from Financial Management) will now be able to use either Entry Date or Check/EFT Date in vendor payments vouchers to arrive at the affect date for financial management activity created from voucher distribution. Use of Entry Date is recommended as that allows invoices to be entered and distributed immediately without the requirement of an assigned check or EFT number. This facilitates real-time reporting and analysis for the general ledger (Trial Balance). With this optional software bundle, Affect Date is populated in all activity records (expenditure, revenue, and balance sheet). However, the primary purpose/use is for cash-type balance sheet codes as this allows cash-flow analysis on a daily basis. ??Check/EFT Date will continue to be used for Affect Date by the Clear Checks/EFTs report process.