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Title: Understanding Dates in Unanet

Brief description:

The purpose of this Quick Topic is to define the various dates that are used in Unanet. The table below describes the various dates in Unanet.

What’s covered in this document:

Financial Post Date/Posted Date

Used in Financial transactions, this date reflects the fiscal period used for posting to the general ledger.

Note: Be careful not to confuse this with the Expense Extracted Post Date described below. 

Document Date

Used in Financial transactions, this is the date of the document entered at the time of transaction entry.

Document Date is the "Transaction Date" that appears in the bank reconciliation screens.

Some companies leave this date to default to "today" so they know when a transaction was entered into the system; some companies who prefer more control over how items appear in the Bank Reconciliation module leave this date to be the same as the Post Date.

Invoice Date (AP Vendor Invoice)

Used in Financial > Accounts Payable > Vendor Invoices, this date should reflect the invoice date from the vendor invoice hard or soft copy. This date is used by payment terms when calculating due date and Accounts Payable Aging.

Billing & Revenue Post Dates

The action to post Billing and Revenue is performed by going to Financials > Invoicing & Posting > Billing & Revenue Post. The data available to post will derive from your Posting Options that are setup in Admin > Setup > Accounting > Posting Options.

There are two date fields when performing a Billing & Revenue Post:

  • The INCLUDE ACTUALS THROUGH date indicates the end date that you want to pull data to include on a customer invoice. Depending on your billing cycle, this could be the end of the previous month after all time and expenses have been submitted and approved to invoice to a customer. You are only able to pull and post locked/extracted time and expenses. This field will use settings from Posting Options as mentioned above. For example, if Posting Options for Expense are set to Expense Line Item Date, then Expenses will be posted if their Line Item Date are within the range set in Include Actuals Through. 

  • The POST DATE indicates when the journal entries will post to the general ledger. This date should follow your business processes. Some reports offer criteria to show the "Journal Date" or "Journal Through Date." These could correspond to the date selected in the POST DATE field chosen during the Billing & Revenue Post.



Add Invoice (Customer Invoices)

The Add Invoice screen is used to generate invoices for one or many projects and is performed by going to Financials  > Invoicing and Posting > Add Invoice.

The THROUGH DATE available in the selection criteria can be used to narrow down a time frame for which items will be included on the draft invoice. If the Post date from the Billing & Revenue Post falls within the date range supplied for THROUGH DATE, then the item will be included on the Draft invoice.

You can enter a specific through date by typing in the date directly or using the calendar control. Another option is to use the named date range from the list of built-in values. 

The INVOICE DATE field is used to supply the date that will be stamped on the resulting draft invoices created. You can enter a specific date or use the calendar control to select a date.

The POST DATE is the date you desire to have a financial document posted. As the Post Date works in conjunction with the FISCAL PERIOD field, it must fall within an open fiscal period that allows transaction entry. 

 

Labor Cost Post and Expense Report Cost Post

The Labor Cost Post and Expense Report Cost Post are available for timesheets and expense reports in the Locked or Extracted status. This action is performed by going to the Financials > Invoicing & Posting > Labor Cost Post or Expense Report Cost Post. This posting process creates journal transactions for the costs to the General Ledger and is typically part of month-end close procedures. Many reports allow for reporting on posted data only.

The INCLUDE ACTUALS IN selection criteria can be used to narrow down the time frame for which details will be included in the output. You have the option to specify either a Date Range or Time Period (in which users report their time). Just as with the Billing & Revenue post above, this will look at your settings in Posting Options to determine what data should be pulled in. For example, if Posting Options for Expense are set to Expense Line Item Date, then Expenses will be posted if their Line Item Date is within the range set under INCLUDE ACTUALS IN. 

Date Range:



Time Period:




The POST DATE is the date that the Labor Cost or Expense Report Cost will post to the general ledger. This date should follow your business processes. Some reports offer criteria to show the "Journal Date" or "Journal Through Date." These could correspond to the date selected in the POST DATE field chosen during the Billing & Revenue Post.



Line Item Date

The Line Item Date refers to the specific transaction date on a timesheet or expense report.

When referring to Labor Posting, this is the worked date or the timesheet date cell that time is being entered. It is best practice to use this date when posting labor (See Admin >Setup > Accounting > Posting Options). In the timesheet example below, there are two line items with time charged (Customer_2 entries) and one line item with no time charged (MYCO).




When referring to an Expense Report Line Item, this is the individual Expense Report Line Item Date (highlighted) from Expense Report Vouchers.



You will find the option to report on line item date in all reports that display expenses. When you select a date range and choose to report on line item date, the report will return any expense with a line item date that falls within that range. Note the line item date is the only way to report on non-completed expenses (expenses that haven't been fully approved).

Expense Post Date (Expense "Extracted" Post Date)

When exporting expenses, you have the option to MARK DATA AS EXTRACTED. If you choose to mark data as extracted, you can optionally enter an Extracted "Post Date." This date can be any date you choose, but should be meaningful to your processes. Entering a Post Date will add a value of Post date to the Expense voucher. For example, this can be helpful when exporting expense reports to a payroll provider or third party system. This action does not post the expense report to the general ledger. 

If your Posting Options are set to use the posted date then your expense reports will not be available for your Expense Report Cost Post until they have a post date. (If your Posting Options are set to using voucher completion date then the Expense Post Date is not required in order to do your Expense Report Cost Post) 




Report criteria will allow you to use the Extracted "Posted Date" for reports that include expenses:



Expense Voucher Completion Date

The voucher completion date refers to the date the voucher was fully approved or when the last approval for an expense report is completed and the expense report transitions to a COMPLETED status. You will find the option to report on voucher completion date in all reports that display expenses. When you select a date range and choose to report on voucher completion date, the report will return any expense whose completion date falls within that range irrespective of the line item dates on the expenses within the report. See below:



Timesheet Post Date

The posted date for timesheets varies based on a number of factors. This section steps through the various states of both timesheets and timesheet adjustments and the impact on the post date. 

  1. Timesheets have a post date applied to each timesheet cell. The post date for each unadjusted cell is always the date worked. This value cannot be changed on the original entry, although the post date on adjustments may be different.
  2. If locked/extracted time is adjusted, the post date of the adjustment will be applied based on the type of adjustment made. An administrator can perform an Admin Adjustment or users and administrators can perform End User Adjustments. Admin Adjustments do not require re-approval of the timesheet, whereas End User Adjustments do. Adjustments may also occur based upon edits to the Person Dilution screen or the Person Rates tab, or via import to the Person Rates tab.
    1. When applying an Admin Adjustment, a post date is entered in the adjusting screen. This date becomes the post date for adjusting entries.
    2. When applying an End User Adjustment, the date the adjustment is made becomes the post date.
    3.  A dilution-triggered adjustment will apply the last date with data in the period as the post date.
    4. A rate change in the person profile will apply today’s date as the post date.
    5. A rate change made based on import to the Person Rates tab will apply today's date as the post date.

#

Type of Time

Post Date Logic (NOT the Financial Post)

Example Work Date

Example Post Date (NOT the Financial Post)

1

Unadjusted

Will be the work date

8/17/2013

8/17/2013

2

Adjustment based on dilution calculations triggered by Person Profile Dilution “Hours in Period”

Will be the latest unextracted post date (if any unextracted adjustments already exist on that timesheet), otherwise, today’s date.

8/17/2013

8/30/2013 (biweekly period end date)

3

Adjustment triggered by Person Profile Rates tab edits whether manual or Person import (including, if applicable, dilution recalculations)

Will be today’s date

8/17/2013

9/21/2015 (the date the adjustment was made)

4

End User Adjustment based on change to project, but no change in hours

Will be today’s date

8/17/2013

9/21/2015 (the date the adjustment was Completed)

5

End User Adjustment based on Change in hours

Will be today’s date

8/17/2013

9/21/2015 (the date the adjustment was Completed)

6

Admin Adjustment (any)

Will be whatever date the Admin puts in as the Adjustment Post Date

8/17/2013

8/31/2015 (whatever date the Admin inputs)

7

Adjustment via import into Timesheet

Will be the posted date if one is supplied on the file, or else will be today’s date

8/17/2013

8/17/2013 (the post date supplied on the file), or 9/21/2015 (if no post date was supplied on the file, then the date the adjustment via import was made)


Adjustment Post Date

Adjustment Post Date is the date a timesheet was adjusted. Typically, the adjustment post date would be the day you are making the adjustment, but you can choose to supply an alternate date to align with your business processes if needed. This is not the Financial Post.

Summary Table

Type of DateFinancial Post/Hits General LedgerFinancials license only
Document DateYY
Invoice DateYN
Financial Post/Posted DateYN (Billing uses this)
Billing and Revenue PostYN
Labor Cost and Expense CostYN
Line Item DateOnly if set in Posting Options and posted in Financial Post/Posted date as aboveN
Expense Extracted Post DateOnly if set in Posting Options and posted in Financial Post/Posted date as aboveN
Expense Completed DateOnly if set in Posting Options and posted in Financial Post/Posted date as aboveN
Timesheet Post DateOnly if set in Posting Options and posted in Financial Post/Posted date as aboveN
Timesheet Worked DateOnly if set in Posting Options and posted in Financial Post/Posted date as aboveN
Timesheet Adjusted Post DateNN


Additional Information

Help Docs - Adjustments (Post Date tips)

KC - Posting Options

KC - Quick Topic - Best Practice for Extracting Time and Expense to Downstream Systems

KC - Procedures for Financials End-of-Month Close - Verify that all Project-to-Financial Postings are completed


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