Transaction Date and Accounting Period

Accept the Transaction Date default (current date) unless authorized to change the date to the effective date of the commitment, usually the date of the last approving official’s signature.

The commitment may be posted prior to or after the effective date and against funds that are not currently available. For example, a commitment could be recorded on October 1 (first-quarter funding), with an effective date of January 1 (second-quarter funding):

  • The result of this action will be a reduction of second-quarter funds availability.
  • The effective date of the transaction will be applied throughout the life of the action.
  • The requesting office must indicate, as a comment, what funds should be applied to a quarter other than the current quarter.
IFMIS will populate the Accounting Period, the month in which the transaction will be posted in the current fiscal year, based on the Transaction Date entered.
Screenshot of IFMIS main commitment screen with arrows pointing to Transaction date and Accounting Period fields; transaction date shows default (date commitment entered); accounting period populated by IFMIS