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Meaning of Due Date in Manual Journal Entry

rajesh_khater
Active Participant
0 Kudos

Hi,

What should we enter in the Due Date field while passing a manual Journal Entry?

By default, the Journal Entry screen opens with Posting Date, Due Date and Document Date equal to the system date. If the user changes the Posting Date, the Document Date changes automatically but the Due Date does not change. User has to remember to manually change the Due Date.

Users are questioning us what is the use of the Due Date field in Journal Entry?

The Help file simply mentions: "The due date is the date on which the entry takes place. "

It is not clear from the Help file.

Can someone clarify with an example.

Thanks.

Accepted Solutions (1)

Accepted Solutions (1)

frank_wang6
Active Contributor

Due day, in general, it will only affect aging report, nothing else. But since most of the manual journal wont show up on aging at all. That's why in general, there is no effect.

And also, if you have any customized query to use Due Day to do some calculation, and then you will need to be careful.

I believe just passing the above information to your accounting, they should be able to understand what to do.

Frank

Answers (1)

Answers (1)

Former Member
0 Kudos

Hi Rajesh,

The due date is the date on which the entry takes place

rajesh_khater
Active Participant
0 Kudos

Hi Chintan,

It is not clear. I already mentioned in my question that I found this in the Help File. But if the Due Date is the date on which the entry takes place, what is Posting Date?

Can you give me a scenario where the Posting Date and Due Date will be different in case of Journal Entry?

When the Posting Date is changed, the Document Date changes automatically but the Due Date does not change.

Thanks.

Former Member
0 Kudos

Hi,

Posting date is basically document posting date.. Current date

Due date in terms of Manual JE not useful same as posting date.

Document date can be very to show entry  in report. If document is old and you are posting it today then posting date is current date but document date is earlier date

rajesh_khater
Active Participant
0 Kudos

Yes Chintan, whatever you mentioned above ... I also think so.

But the users are questioning whether there will be any impact if they give some arbitrary Due Date, or if they forget to change Due Date when they change Posting Date.

Example:

Suppose on 1st April, user opens the Journal Entry form, and all 3 dates are 1st April.

Now user changes Posting Date to 25th March. Automatically system changes the Document Date to 25th March, but Due Date remains as 1st April.

Will there be any issue if the user forgets to change the Due Date to 25th March?

Thanks.

Former Member
0 Kudos

Hi,

No impact at all as reports are based on either posting date, document date or system date.

kothandaraman_nagarajan
Active Contributor
0 Kudos

Hi,

It may affect while posting incoming payments for manual JE if user prefers to post based on due date.

Thanks & Regards,

Nagarajan