Is there a circumstance where an org would choose to do variance analysis & reconciliation based on the transaction date, rather than the posting period? If a transaction date falls outside the posting period, I would still expect the trial balance & related reporting to be done based on the posting period. Could someone explain if/when/why this might not be the case?

Ap aging gave us some issues. The aging is based on trans date or due date and When those didn't match the period (which is only granular to the month) it made problems for us. We're still working that out.