If you enter a transaction into IAR on Friday, when is the latest you can modify that transaction if it is not part of another transaction?

The correct answer is based on the policies and timelines established by the Airlines Reporting Corporation (ARC) regarding the modification of transactions entered into the IAR (Invoice Audit Review) system. When a transaction is entered into IAR, it is essential to understand the timeframe in which modifications can occur.

If a transaction is entered on a Friday, it cannot be modified past that same day at 11:59 PM Eastern Time. This deadline is critical as it ensures that all transactions are finalized in a timely manner before the reporting period ends. Consequently, once the clock strikes midnight marking the start of Saturday, that transaction would typically enter a more restricted status, making further changes more complicated or altogether unallowed.

This policy helps maintain the integrity of financial reporting and ensures an organized review process, preventing last-minute adjustments that could disrupt the overall transaction record.