Common Elements Used in Structuring Leases

Effective Date

The date on which a table row becomes effective; the date that an action begins. For example, if you want to close out a ledger on June 30, the effective date for the ledger closing would be July 1. This date also determines when you can view and change the information. Pages and batch processes that use the information use the current row.

SetID

An identification code that represents a set of control table information or tablesets. A tableset is a group of tables (records) that are necessary to define your company's structure and processing options.

Status (effective status)

Indicates whether a row in a table is active or inactive. You cannot display inactive rows on transaction pages or use them for running batch processes. You should inactivate data that you no longer use rather than delete it to maintain an audit trail.