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

1. Open the Payment Institutes window.
2. Query for the payment institute(s) or populate the window.
3. Select one or more payment institutes, right-click, and then click Value Date Calculation. The Value Date Calculation window opens.
4. Create a new record.
5. 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. 
6. 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.
7. 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. 
8. Specify the type of date to use for the calculation, by selecting either VoucherDate or PaymentDate from the Reference Date list.
9. 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.
10. Save the changes.