In Global Tax Determination, you can select several date types. The table below explains what each date type means.
Date types provided in transactions
Date type |
Description |
| Accounting Date | The date up to which annual accounts are made. For example, if a company’s accounting date is September 14, 2020, accounts must reflect the period from September 14, 2019 to September 13, 2020. |
| Contract Start Date | The date when a contract for services becomes effective. |
| Contract End Date | The date when a contract for services ends. |
| Date of Service Performance | The date when the service is performed. |
| Date of Title Transfer | The date when the title to the goods is transferred legally from the vendor to the purchaser. |
| Delivery Date | The date when goods are delivered to the purchaser. |
| Good Return Date | The date when a good is returned. |
| Original Transaction Date | The date when the original transaction took place. Only applies to credit memos and returns. |
| Payment Due Date | The date when payment for the goods or services is due. |
| Payment Received Date | The date when payment for the goods or services is received by the vendor. |
| Receipt Date | The date on the transaction receipt. |
| Transaction Document Date (also called Invoice Date) | The date specified on the transaction document. A transaction document includes an invoice, receipt, sales order, purchase order, or leasing contract. |
Date types assigned by GTD
Date type |
Description |
| Created Date | The date when a transaction is created in GTD. |
| Tax Point Date | The date used by GTD to calculate taxes. The next section explains how the tax point date is determined. |
| Updated Date | The date when transaction data is updated. |
Tax point date
The tax point date is the date that GTD uses to calculate tax. GTD determines the tax point date for a transaction based on the following information:
- Tax jurisdiction (situs)
- Good/Service code or category
- Accounting method (cash or accrual)
- Transaction type (sale, purchase, rental, etc.)
- Dates included in the transaction
If GTD can't determine a tax point date, it will select a date based on the following default rules:
- For transactions involving goods, the tax point date is the delivery date.
- For transactions involving services, the tax point date is the date of service performance.
- If the delivery date or date of service performance is not included, the tax point date is the transaction document date.
- If the transaction document date is not available, the tax point date is the system date.