Value date
In one sentenceThe date on which the amount actually becomes available in the account, or on which return or fees are calculated. It may differ from the date the transaction was recorded.
Simply put
The bank statement may show two dates: the transaction date and the value date. A deposit on a Thursday, for example, may only become available on Sunday.
It matters when calculating the balance available for payments, and in the reconciliation if the transaction appears on the statement with a date different from the one you recorded.
Example
A store deposited a check from another bank on the last day of the month, and the accountant recorded it in the same month, but the value date on the statement came three days later, so it appeared in the reconciliation as a deposit in transit.
Don't confuse it with
Deposits in transitA deposit in transit is a difference in the reconciliation, and the value date is often its cause.