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Is there anything I need to do to make a custom transaction body field (date field) available in a report? I can't find mine in my reporting choices.

If it's not a stored value field it wont' show up

That's my most common offender - sometimes it's a cache issue.

This date is dynamic, basically it updates when items are picked,packed, shipped.

For our use case, we use the "packed" feature to denote a ship date and it denotes an actual ship date. Therefore if I store the field value it is no longer dynamic and it becomes static correct?

You'd have to come up with some other way of updating your field if you change it to a stored value field.

you a workflow to copy it to a stored value custom field. use the new 'stored' value version in your Report.