The Effective Date belonging to a Change Order establishes when the Change Order and its items are activated and displayed in Pegasus. The Effective Date is handy for pre-dating or post-dating Change Order items.
For example, if you have a Pay period ranging from March 1st - March 31st and you create a Change Order on April 7th, but want items in the Change Order to display in the March pay period. You will need to set an Effective Date for the Change Order for sometime between March 1st - March 31st.