Need more details on the Transition Date during Compliance System Options Setup
Hello
The implementation guide has very little information or guidance around the Transition date during the Compliance Setup in System options for Real Estate Leases.
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Implementation Guide :
Transition Date: On the date of transition, transition balances are calculated
according to the lease and term, and also uploaded as accounting balances. An
accounting event is triggered and accounted in accordance with the configuration.
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What is the thought process behind choosing this date? Should it be the 1st day of the month in which we are doing the system option setups or the 15th or the last day of the month?
What will be the Business considerations around choosing this date?