The date when a payment is allocated/pays/applies to a procedure
The date is always the Created Date of the payment or credit adjustment
Even though the system allows a user to modify the transaction date, the date of service, or the payment date, the allocation date is on the date the payment or credit adjustment was entered
The hard-programmed creation date is for data integrity. Example: if a user back dates a payment, the system will allocate that payment as of the created date.
If you backdate a payment, the system will still allocate the payment as of the created date, despite the transaction date being backdated. Hence any payment made in the past, the system will not unallocate or reallocate the previously entered payments.
Typically the allocation date is when a payment is collected
Most of the time, there is a balance on the account at the time of the payment collection, toward which the appropriate amount of the payment may be allocated to the past procedure