With the Effective Date Account Adjustment feature, you can post an adjustment with an effective date in the past.  This feature can be used to post a transaction to a member’s account and have the system automatically calculate the adjustment to interest or paid dividends according to the effective date of the adjustment. In a nutshell, it effectively back-dates simple, common types of transactions with a notation in transaction history indicating the effective date.

It currently works only for savings products that use the average daily balance method for paying dividends (not currently available for products with a daily accrual).  It can be used to post adjustments to loans with interest calculation type 0 (365-day interest calc) only.  There are other important rules and restrictions as well, but the tool can be helpful for posting simple, common transactions such as a missed deposit or loan payment.