There are dates:
You eat, which grow on a palm tree
You go out on, sharing time and company with someone else, and
Dates that appear on a calendar
Isn’t English a wonderful, non-ambiguous language? How could anyone possibly misunderstand?
Accounting systems and dates are hopelessly intertwined, they go together like ducks and June bugs. As you may have guessed, here we are referring to dates of the third kind above, those that represent “when” something either happened last or is next expected to happen. Why do we even care?
We care largely because accounting systems are a means of keeping score. How are we doing – better or worse? What happened? When did it happen? Is the trend up or down? These are the kinds of questions typically posed to and answered by accounting systems. It is equally implicit that things occur “over time”, implying a continuum against which results are measured. Most people don’t think about it much consciously but dates in accounting systems are important drivers of results. To be a good accountant means that you have some understanding of dates.
Dynamics NAV to the rescue!
Dynamics NAV has a wonderful and robust set of tools for manipulating dates. One of the most basic of these is the notion of “Posting Date”. What does that even mean? Quite simply, it generally represents the date something happened and is quantified by some dollar values being entered to some general ledger account on some date, where date in this sense means “this thing happened on this date”. Is it the date that I recorded the transaction? In most cases not, since recording things frequently occurs AFTER the thing being recorded actually happened. But the recorder in us states that on Monday, February 8, 2016, thus and such happened and we evidence its happening by recording the date on which it occurred, it’s posting date.
We have all kinds of dates; posting dates, work dates, date filters, closing dates, run dates, as of dates, future dates, current periods, prior periods, period to date, year to date, past dates, dates that have time elements associated with them aka DATETIME values. All kinds of dates.