Some Flywire reports, including the Payment Detail and Payment Summary reports, let you choose which date range to use when running the report. Depending on the report, these options may appear as Calendar Date, Transaction Date, or Effective Date.
Choosing the right date range is important, especially when you are reconciling Flywire activity with bank deposits or posting activity in your EHR.
Calendar Date / Transaction Date
Use this option when you want the report to include payments based on the date the transaction was taken in Flywire.
Effective Date
Use this option when you want the report to include payments based on the date the transaction became effective for settlement or posting purposes. This date may be different from the transaction date, especially when payments are processed after a cutoff time, over a weekend, or around a holiday.
For example, a payment may be taken on Monday but have an effective date of Tuesday. If you run the report by Calendar Date, the payment appears under Monday. If you run it by Effective Date, the payment appears under Tuesday.
For reconciliation, Effective Date is often the better option because it is more closely aligned with settlement and posting activity. However, if you are researching when a payment was actually collected from a patient or staff user, use Calendar Date or Transaction Date.
For more information, see the articles on reconciling Flywire with your bank deposits and EHR posting files.