Practice CS: Understanding Dates in Receipt & Adjustment Entry

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The Receipt & Adjustment Entry screen in Practice CS uses two date fields: the Control Date and Date fields on each transaction line. It is important to understand how these work so that receipts are posted to the correct period.

In Practice CS, a Control Date is a way to collect a number of individual receipt or adjustment transactions into a logical group. Your firm can choose whether a particular control date represents a single day, or whether multiple days are entered into a single control date. A commonly used technique is that a control date represents a specific bank deposit, and each receipt deposited in that batch will be entered into the same control date. The control date, however, is not ever used to determine which date (and therefore period) that a receipt is posted to.

Once a control date is entered, Practice CS will open a data-entry grid where the individual receipt transactions are entered. You must enter a value into the Date field on each receipt or adjustment entry. The date entered in this field will determine which period that individual receipt or adjustment is recorded in. For example, if a receipt is dated 5/31, but was keyed into a control date of 6/1, that would appear on reports as a May payment.

Note for former users of the Creative Solutions Practice application: this is the opposite of the way dates work in CSP (where transactions are posted according to the Control Date used in A/R Entry).

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