Set up Value Date Calculation
Explanation
This activity is used to specify the date that a cash transaction is expected
to affects your cash account at the bank. Since payment institutes typically
process different types of transactions within different time frames, you can
set up different calculation parameters for each bank transaction code at each
payment institute.
Value date calculations are only applicable for transactions of automatic
payment types, i.e. value dates apply to bank transaction codes used to identify
automatic payments. Value dates are calculated by using the date adjustment
factor you specify for the bank transaction code and it is based on the payment
date or voucher date specified for the payment. For other types of payments, the
date adjustment factor should be specified as zero, since value dates are not
applicable.
The statement transaction dates will be compared with the value dates when matching transactions automatically.
Prerequisites
This activity has the following prerequisites:
- At least one payment institute must have been registered in IFS Applications
(in
Payment Institutes window).
- Bank transaction codes must have been registered (in
Bank Transaction Codes window).
- Payment date administration details must have been entered (in
Payment Institutes window).
System Effects
As a result of this activity, the appropriate value dates will be calculated for each type of cash transaction.
Window
Payment
Institutes
Related Window Descriptions
Payment
Institutes,
Value Date Calculation
Procedure
- Open the
Payment Institutes window.
- Query for the payment institute(s) or populate the window.
- Select one or more payment institutes, right-click, and then click Value Date Calculation. The
Value Date
Calculation window opens.
- Create a new record.
- In the Transaction Code ID field, use the List of Values to select a bank transaction code for which to define the value date calculation.
- In the Date Adjustment Factor Received field, enter the time
frame (in days) to calculate the value date for transactions where cash is
received to the company. If the payment is not an automatic payment, enter 0
as the number of days.
- In the Date Adjustment Factor Disbursed field, enter the time
frame (in days) to calculate the value date for transactions where cash is
disbursed from the company. If the payment is not an automatic payment,
enter 0 as the number of days.
- Specify the type of date to use for the calculation, by selecting either VoucherDate or PaymentDate from the
Reference Date list.
- Specify whether the value date calculation should consider blocked dates or not by selecting either OnlyOpen or All from the
Allowed Type of Date list.
- Save the changes.