Determining Accounting Date for Accounts Payable Vouchers
The Accounting Date recorded on a voucher is generally the date a liability is incurred (e.g., the date which the goods or services are received from the vendor) regardless of whether a corresponding invoice has been received. The Guide to Financial Operations (GFO), Chapter XII, Section 5.G - Entering the Appropriate Obligation and Accounting Dates on Vouchers has been updated to include the table below:
|TYPE OF PAYMENT||ACCOUNTING DATE IS THE:|
|Merchandise (Non Contract)||Date merchandise is received.|
|Services (Non Contract)||Date services are completed.|
|Contract payments||Payment dates specified in contract; if none specified, then date(s) goods are delivered or services are completed.|
|Prepaid Services (i.e. Rents, Subscriptions, Maintenance Contracts)||Date the service begins. If period is not open, end date of current open period.|
|Inter-agency Vouchers||Accounting date of the bill. Generally this is the Billing Date.|
The GFO also provides information on why Accounting Dates in Accounts Payable may sometimes differ from those recorded in the General Ledger.
For more information, see the GFO, Chapter XII, Section 5.G – Entering the Appropriate Obligation and Accounting Dates on Vouchers.