The effective meter read includes any estimate or average billing. The current meter read is the actual last read provided. Therefore effective meter read is what you have billed, whereas meter read is the last actual read that has been entered.
Jim2 will turn effective reads into actual reads if required.
Example
Month 1
There is an actual read recorded of 10,000 for black.
MC.PAGE.BLACK 10,000
Effective read = 10,000
Actual read = 10,000
Month 2
There is an estimated read recorded of 20,000 for black
MC.PAGE.BLACK.UNDERS 10,000
Effective Read = 20,000
Actual Read = 10,000
Month 3
There is an actual read recorded of 18,000 for black.
MC.PAGE.BLACK.UNDERS = -8,000
MC.PAGE.BLACK = 8,000
Effective Read 20,000
Actual Read = 18,000
Month 4
There is an actual read recorded of 24,000 for black
MC.PAGE.BLACK.UNDERS = -2,000
MC.PAGE.BLACK = 6,000
Effective Read = 24,000
Actual Read = 24,000
Further information: