What is the significance of default value date?

[Former Member]

Hi All,

Can anybody tell me the significance of default value date

IMG  Financial Supply Chain Management  Cash and Liquidity Management  Cash Management  Basic Settings  Define Value Date Default

Result : The current date is proposed as the default value date.

What is the need of maintaining this setting? and what would be the impact if this setting is not maintained?

Thanks.

[Former Member · Accepted solution]

Hi,

When you enter document line items for those values which are relevant for cash management, system will propose current date as default value date if we tick the check box. For example when you enter a payment document there will be a field value date for all bank GL accounts. This field will be filled with current date if you tick the check box at the given configuration step.

Hope this clarifies.

Kumar

[Former Member · Accepted solution]

Hi,

Is value date a document date or posting date or system date?

Is this setting also applicable for MIGO, MIRO value date?

Can it be overruled during the execution of transaction?

Thanks.

[Former Member · Accepted solution]

Hi,

Here the value date is current date, that means it is system date. But this field can be edited while posting the document. If we will not tick the check box at the said configuration step the value date field will be blank.

No, this setting is relevant for cash management related accounts, that is mainly bank GL / sub-GL accounts(clearing). I don't see any relevance of this date in the other transactions mentioned by you. Not sure, if some of the forum members can throw some light on this. But per standard settings in general value date is relevant mostly for bank/cash related accounts as we make the setting such that this field is mandatory for posting to bank/bank clearing GL accounts.

Hope this clarifies.

Kumar

[Former Member · Accepted solution]

Thanks Kumar.

Awarding you points.

It would be grateful if you tell me few transaction in cash management where the value date is entered?

Just one doubt, as far as I know, system date and time can not be changed and it is defaulted for every transaction in the background and can not be changed.

Thanks a lot

[Former Member · Accepted solution]

Hi,

Please remember you are not changing the system date, but you changing the date proposed by system in the field value date. That means system date and time is not getting changed.

The value date field will be required field while posting to GL accounts related to bank accounts/bank sub-accounts. The examples i can quote is payment to vendor (using F-53), incoming payment (F-28), etc.

Hope this clarifies.

Kumar

[Former Member · Accepted solution]

Hi Kumar,

It was a good explanation.

If value date is a required field while posting to GL accounts related to bank accounts/bank sub-accounts then why the posting date is used?

What is the difference between posting date and value date then?

Awarded you points for your last reply.

Thanks.

[Former Member · Accepted solution]

Hi,

Let us take an example. Suppose you receive a payment thorugh check from a customer. Then the day you receive/present the check to the bank itself you will post in your system as a payment. Then on this payment date, your customer would be cleared and this is the posting date.

But when the payment method is check, then you cannot take the money directly on the same day itself. It will take 3 days for the money to reflect in your account. So 3 days from now is what is the value date.

Value date is something by which you specify that tranasactions money will be reflected in that account on value date i.e any transaction can be realized on that particular account on the value date.

Hope it is clear.

Regards,

Ravi

[Former Member · Accepted solution]

Hi Ravi,

It was a really helpful answer.

So just would like to know whether it is advisable to make value date as default date in configuration?

In what case it is advisable or not advisable?

Thanks a lot

[Former Member · Accepted solution]

Thanks Ravi for your explaination.

Making it default or not is upto you. But in general, we will make it default as the value date is a required field. Leaving apart the payment method cheque, for other methods the value method is going to be same as posting date. So, it is better to have it default as the date is already prompted in the field when you enter the document. In case you want to change it you can do it as it is editable.

Not sure if forum has different opinion, or someone had faced problem by having it as default?

Hope this clarifies.

thanks,

Kumar

[Former Member · Accepted solution]

Hi,

Kumar agree with you.

Except for cheque most other payment methods would be realized on the same day. Also if you make it a default todays date, you can still override it in payment method configuration where you can specify the number of days required for value date specific for payt method. So there if you have specified 3 days for cheque payment method, it would calculate 3 days from value date.

So you can make it as a default system date.

Regards,

Ravi

[Former Member · Accepted solution]

Thanks Kumar & Ravi.

Just last question and I would mark this question as answered.

What if I dont set it as a default date, system will not prompt the current date as value date. So If value date is the mandatory field then user will have to enter the date but what if the value date is not the mandatory field...or is the value date always a mandatory field or depends on the setting we make in fields screen layout. (Since I am not in front of the system I cant check it)

Suppose, it depends on the setting we make in screen layout and it is not configured as mandatory and user forgets to enter the value date and leaves this field emply then what would be the impact on business?

Thanks a lot.

[Former Member · Accepted solution]

Hi,

No problem you can ask how many ever questions until you are clear.

As for your question, if the G/L account has a field status group of Bank accounts which is general for all bank accounts, then value date is a mandatory field.

Regards,

Ravi

[former_member1040864]

value date : it is the expected date of realization of funds involved in bank instruments.in field status group if you select value date as required entry ..if its not selected the information can not be passed to the cash planning department..

regards,