Stream: implementers
Topic: PaymentReconciliation - paymentDate
Samantha Mater (Nov 09 2020 at 21:40):
In the PaymentReconciliation specification, there is an element called paymentDate. The description is "When payment issued" and the definition is "The date of payment as indicated on the financial instrument". I have both a 'paid date' field and an 'issued date' field in my system, and they're potentially different dates.
Which field would be appropriate based on the description/definition? I'd assume the 'paid date' field based on the element name, but the "when payment issued" description is really throwing me for a loop. Thanks!
Lloyd McKenzie (Nov 09 2020 at 23:55):
What are the definitions in your system for "issued" vs. "paid"? It's hard to know how to map them without knowing what they mean.
Lloyd McKenzie (Nov 09 2020 at 23:55):
(Names are rarely enough :smile:)
Samantha Mater (Nov 12 2020 at 14:25):
Fair enough!
Issued date is when the check was written, paid date is when the check was cashed.
Lloyd McKenzie (Nov 12 2020 at 15:15):
@Paul Knapp
Samantha Mater (Nov 17 2020 at 15:26):
Hi, just looking for an update on this! Thanks!
Lloyd McKenzie (Nov 17 2020 at 15:54):
@Paul Knapp ...
Paul Knapp (Dec 04 2020 at 17:52):
@Samantha Mater Payment date is your issued date, only you know when the funds actually arrived.
Samantha Mater (Dec 04 2020 at 17:57):
thanks!
Last updated: Apr 12 2022 at 19:14 UTC
