The AP Invoice record will allow you to enter both a 'Date' and a 'Posting Date' when performing AP Invoice entry. This feature will likely only be necessary to use in certain scenarios.
Date vs. Posting Date
When a new AP Invoice is created, the 'Date' and 'Posting Date' values will both be automatically set to the current date. The 'Posting Date' value will be hidden until the User clicks the expand arrow to the right of the 'Date' field label. When expanded, the 'Posting Date' field will be visible.
Date - This value represents the date that appears on the AP Invoice you have received from a Vendor. By default, the 'Posting Date' value will be set to match the 'Date' value unless manually changed. This means that for the majority of your AP Invoices, the 'Date' and 'Posting Date' will be identical.
- Note: The 'Due Date' value will be based off of the 'Date' value and not the 'Posting Date' value.
Posting Date - This value represents the date when the AP Invoice will be posted to your General Ledger. When the 'Date' value is set, the 'Posting Date' value will be set to the same date. This value can then be manually changed to update the date in which the AP Invoice will be posted to your General Ledger.
Using the 'Posting Date' will be particularly useful when AP Invoices are received after Period Close. The 'Date' value can be set in the closed period, while the 'Posting Date' value can be set in the current, open period.