What is Difference Between Posting Date and Document Date???

[Former Member]

Hi Every body ,

Dear Sir,

Kindly clarify the following query:

What is the difference between posting date and Document Date???

if the date on a bill is  01.10.2013 and i will be entering in the system on the 14.10.2013. Which will be my posting date and how will it impacct the accounts.

Also where will i find "entry date" on the system and what is its relevance. ???

Please reply as soon as possible.

[former_member197621]

Hi Ajit,

Your Question;

if the date on a bill is  01.10.2013 and i will be entering in the system on the 14.10.2013

Answer:

Posting Date should be  14.10.2013 and document date should be 01.10.2013.

This best practise, but if your company having the practise to closing the period on every month then finance person have to decide the posing date either 01.10.2013 or 14.10.2013.

Your Question

my posting date and how will it impacct the accounts

Answer:

For example, company receive phone bill for the month of September  on 30sep13 but you entering it on 02-oct13.

If you put the Posting date as 02-Oct-13 your expenses will increase on Oct month.

If you put the posting date as 30sep13 company expense will increase on September month accounts.

This decision have to taken by your client finance manager. but I suggest to follow the best practise.

[farhan1122]

Hi

The document date will be the date on the invoice. It is the date used for aging purposes, and used to calculate the due date (based on the terms) and the date used for calculating discounts. The Posting Date is the date that will be used to post the transaction in the GL. This is the date which determines which fiscal year and period that the transaction will be posted into.

[Former Member]

Hi  Ajit Landge,

Document Date - Date of the supporting document ie PO/

invoice/ Bill date

Posting date - date on which entry is posted to the ledger

or accounting date

Thanks

[KennedyT21]

Hi Ajit Landge

Posting Date : Dates that determines in which 'Posting Period' a document or a Journal Entry is added to the database.

Document Date : Date that indicate when the shipment of goods take place.

Posting date: The date on which the document is posted to the Database

Document Date: The date on which the document is created. The might be created on 15/10/13 but still can be posted on 17/10/13

Delivery date : Appears in documents other than Invoices. This is the date on which the goods are to be received form the vendor from the purchase point if view, while it is the date on which the goods are to be delivered to the customer form the sales point of view.

Regards

Kennedy

[Former Member]

Posting date is the date when details came in your Financial system.

Document date is the date when the details to be posted is created.

[Former Member]

Hi,

Document date is the date which is appearing on the physical copy of the document e.g. vendor invoice

Posting date is the date on which the said document posted in finance.

E.g. You have received the vendor invoice with a invoice date  as 12th october 2013 and the same invoice you are booking in the finance on 14th october 2013. in that case while making the entry you will give document date as 13th october 2013 and Posting date as 14th october 2013.

Entry date is the date which system calculate on the basis of date on which you made the transaction entry in the system. In the above e.g. it will be 14th october 2013.

Thanks & Regards

Mahesh

[K_Pauquet]

Hi Ajit Landge,

the Posting Date is the date that determines in which posting period a document or journal entry is added to the database. This is important for reporting, especially tax reporting.

The document date is the date that indicates when the shipment of goods takes place.

Example:

Our company sells apples.

1.) We receive an order & take an apple out of our warehouse to ship to our customer. This date is the  ‘Document Date’.

2.) Our customer receives the apple & now accepts liability for the payment. This is the ‘Posting Date’.

3.) We send the customer an invoice where we specify the date when payment for the apple is expected. This is the ‘Due Date’.

All the best,

Kerstin

[ganeshram_v]

Hi Ajit,

Posting date - Accounting Date in SAP B1.(Creating JE for particular account).

Document date - We can use for our Ref (We can use the supplier invoice date).

For above scenario

Posting Date - 14-10-2013

Document Date - 01-10-2013

journal entry (Accounting in GL) has been created on - 14-10-2013

Regards,

Ganesh

[kothandaraman_nagarajan]

Hi,

1. Posting date and document dates are same as system date.

2. Entry date is posting date of the document.

For more explanation, place cursor on the date filed, then right click and then choose "What's this?".

Thanks & Regards,

Nagarajan