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What happens if I uncheck the box for Use Gift Date as G/L Apply Date on the Gift Edit Report?
If I would like the gift date to be different than the G/L apply date of a gift, what are the ramifications of that if I uncheck the checkbox and enter in a different G/L apply date?
Answer:
The gl apply date is the date that it will impact the general ledger, facts, etc. Generally you would want it to impact the GL the same day as the gift was entered into the system/"received" as this impacts interest, etc.
One possible complication from that is that it will not be as easy to tie GL entries back to those gifts. It would be better to have the Gift date and the GL date be the same, meaning the day they receive the check and actually deposit that money physically into the bank.
Another additional complication is Reconciliation between Gifts and GL, This could possibly cause an imbalance between those two modules. Lastly, another ramification would be if you need to make gift adjustments and don't know that the dates are different it can cause issues.
We have do not recommended having the gift date be different than the GL apply date.