Expense Types - PeopleSoft Fluid 9.2.39

We are in the process to add new Expense Types and also inactivate several existing Expense Types and also update the description of several existing Expense Types, what would be the recommended effective date to use? See summarized option 1 or 2 under each type of action and please share your valuable feedback.

To Add new Expense Type:

1) Use 01/01/1900 as the effective date

2) Use today's date when Expense Type is actually added

To Inactivate existing Expense Type:

1) Just update the status of the existing effective dated row 01/01/1900 from active to inactive

2) Leave the status of the existing effective dated row 01/01/1900 in active status and then add a new effective dated row with today's date when Expense Type is actually inactivated