When transactions are imported into Clear Books via bank feeds, the transaction dates shown on the imported statement are the posted dates.
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There are two states for transactions: pending and posted.
Pending transactions are when an authorisation is taken for a sum of money. The date this occurs is also referred to as the ‘transaction date’. The ‘transaction date’ could represent the date a card was used to make a purchase at a shop. The transaction may show in your mobile/online banking statement as a pending transaction or within a separate part of your online banking portal titled pending transactions or similar.
Posted transactions are when the money has been collected for a pending transaction. The transaction will change from a pending to a posted state. The date on which this happens is also referred to as the ‘bank date’. It is described as ‘the money leaving the account’ which means the transaction is only posted once the money is sent to the payment processor.
Some banks may add the ‘transaction date’ in the text description for each transaction. The date of the transaction will always be the posted date.
Some banks will only move a transaction from a pending to posted state at the start of the next business day, which may fall after a weekend or other extended break. Our bank feed provider will not receive this information until the transactions are posted and so some transactions may appear later than expected.