The Effective Date of New Rate field is used to determine the date the rate specified in the New Rate field is to be effective. All new transactions entered with a date on or after the "Effective Date" will use the rate specified in the New Rate field.

Enter the date in month/day/year format (i.e., mm/dd/yyyy). The "/" characters are automatically inserted. The button can be used to open a Calendar window that allows you to select a date.

Note: A date must be entered in this field if a rate is specified in the New Rate field is greater than 0.00. Furthermore, the date will only be effective for a new rate that is greater than 0.00.

Note: The effective date is stored at the transaction code level. Therefore, each transaction code can use a different effective date for the new rate.

See also:   Date Field Conventions