Accounting Periods and Posting Dates

In the Revenue Management application, the posting rules work with three dates from the billing system and the accounting periods, which are open or closed, to determine the correct accounting period and posting date that are assigned to transactions.

• Event Date — This is the date financial activity or other actions in Gotransverse billing occurred. For example, if a payment is posted September 2 at 12 pm, this is the event date and time.

• Occurred On Date — This is the date of the financial activity. For example, if the payment noted above was backdated to August 27, then this is the occurred on date.

• Posted Date — This is the date created by the posting rules based on the two dates above. For example:

  • If accounting period is open: The August accounting period was closed on September 3, and open prior to that date, and the September accounting period was and remains open. Since the August accounting period was open on September 2 at 12 pm (the event date), the posting date will fall into the August accounting period, the payment transaction will have a posting date of August 27, and an occurred on date of August 27.

  • If the accounting period is closed: The August accounting period was closed on September 1, and open prior to that date, and the September accounting period was and remains open. Since the August accounting period was in a closed status on September 2 at 12 pm (the event date), the posting date will fall into the September accounting period, the payment transaction will have a posting date of September 1, and an occurred on date of August 27.

Refer to the following topics for additional information about working with accounting periods and posting dates: