In our company, we are currently using the ‘transaction date’, but I am not sure if this is the best field to base our general monthly reporting. I would like to know if you use a different date, such as payment date, approval date, sent for payment date, what is the best practice here?

We find challenging to use the transaction date because the reports are always fluctuating, since the employees can enter months old transactions. So, I am not sure if we are capturing the best picture by the end of the month.

I would appreciate if you can share how you handle the monthly reporting in your company.