Meaning of 'Cleared' in MLS View/Updat Donations

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Meaning of 'Cleared' in MLS View/Updat Donations

Postby atkinsob » Sun Oct 28, 2012 10:08 am

What exactly does it mean in MLS when a Deposit has a 'Cleared' status? One of the clerks has an Outstanding Reconcilliation message in their October finance statement that says the 30 September deposit was transmitted but not confirmed by the bank and yet that deposit's status is 'Cleared'. It is a little confusing and any clarification would be appreciated.

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Postby jdlessley » Sun Oct 28, 2012 1:22 pm

The Unit Financial Statement received in October is the September statement. It will only list those transactions completed during the month of September. In this case the deposit was made on 30 September but not received and recorded until 1 October because the bank was not open until Monday, 1 October. The closeout for the report was September 30th. If you had looked in MLS on 3 October (or maybe even the afternoon of 2 October) you would have seen the deposit as cleared (provided there were no problems). So on 30 September CHQ had received the MLS message of the deposit but had not yet received a confirmation from the bank.

While there is no direct explanation of the deposit status provided in MLS or in the wiki, I would expect the definition used for 'cleared' in the Check status section of the wiki article Expenses to be much the same. For checks, 'cleared' means the "[d]isbursement cleared bank and matched at HQ".
JD Lessley
Have you tried finding your answer on the Help Center page or the LDSTech wiki?

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