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 (in Payment Institutes page).
• Bank transaction codes must have been registered (in Bank Transaction Codes page).
• Payment date administration details must have been entered (in Payment Institutes page).

System Effects

As a result of this activity, the appropriate value dates will be calculated for each type of cash transaction.

Pages

Payment Institutes

Activity Diagrams

BDR for Bank Reconciliation