Batch Date vs Transaction Date

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Posted on by Waleed Tibi

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Dear All,

I am planning to change the setting of the GP system to create the journal entries from the batch date; currently the system creates the journal entry from the transaction date.

I was wondering how many of you are in favor of creating the entries from the transaction date? (is the bach date the best practice to close the accounts monthly?), just a little note, the reason that I plan to switch to the batch date is to close the accounts month by month.

Thank you in advance

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K Day 7,365 on at

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When you say journal entries from the Batch Date, you are talking about from Payables or Receivables, right? Because there isn't a Batch Date in financials (it inherits the JE Date)

We do it by batch date from the sub-ledgers because we are a big public company and we are required to close fiscal periods on a schedule. So a smaller company might be able to book an A/P Invoice that came in 2 months last back into a prior period, but we can't. So we record the invoice date (for aging and due date) but have to post the expense in the current period of the old period is closed) which is why we use Batch Date.

One thing that gets confusing is that you will need to run your Historical A/R and A/P Agings by GL post date, not document date if you want to tie to the GL. If you just used the invoice dates for posting to the GL, you could run it by document date.

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This does not work because there is no posting date setting in a batch. You still have to manually change the posting date on every transaction.

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KevinD 215 on at

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If you go to your posting setup for payables for example, you can select to use the posting date from the batch or posting date from the transaction. If using from the transaction, then the batch date will be grayed out in the batch window and the posting date will be available in the transaction under the blue drill in arrow next to the document date. Is you select posting date form the batch, the batch window will have posting date available (will apply to all transactions in that batch) and you won't be able to use the posting date inside the blue drill in arrow on the transaction.

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Ian Richardson 4,150 on at

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definitely batch date here. There is no issue with running the historical aged trial balances by gl date.

this allows us to have prior period transactions in the sub ledger, and current period gl dates. smart list will then allow us to find transaction date < month end but gl date > month end. All those transactions get accrued and we can have a clean cut off.

ian

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For us, Batch date is a best practice. Especially for end of month postings before the close.

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