|
The effective date for a business event represented by a transaction type/transaction code. Although, this date frequently equals the Transaction Post Date, it is not always equal. As an example: an obligation that exists at the end of a reporting period is discovered just after the period ends. The obligation would be posted in the general ledger on a date after the end of the period; however, the transaction would be effective for a date prior to the period end, and would be included in the reports for that period. |