Pending transactions from a bank feed
If you have a bank feed for your accounts you may be able to import pending transactions. In this article, you can find out what pending transactions are and how to deal with them within PocketSmith.
In this article
What is a pending transaction?
A pending transaction is a transaction flagged by a bank if it is not yet confirmed or posted, because some of the attributes of that transaction (merchant, date, amount etc) may change in the coming days.
For example, if a transaction occurs during the weekend, the date of a transaction might be incorrect, or a "friendly" name might be produced for the merchant, until the coming business days when the details can be correctly displayed.
In PocketSmith, pending transactions are indicated with an exclamation mark icon on the Transactions page.
After a few days (generally between one - four days), once the transaction is confirmed by the bank, the pending transaction is removed and replaced it with the posted version. Once posted, your bank will not make any other changes to the transaction, and it is effectively "set in stone". PocketSmith automatically removes the pending icon once a transaction is posted.
Dealing with pending transactions
The categories and edits applied to my transactions have changed
PocketSmith tries to move the category, notes, attachments and labels from a pending transaction to the posted transaction but this only works if the merchant names and amounts are the same. So if the merchant name has changed between the pending and posted transaction then any changes you have made to the pending transaction won't be moved to the posted transaction
Recommendations for pending transactions
- If you find that you are losing the changes you have made to pending transactions, we recommend that you do not edit or categorize pending transactions and the best option is to wait until your pending transactions have been posted.
- The best way to ensure that your transactions are categorized correctly, regardless of whether you have pending transactions or not is to use Category Rules and Filters.
Turn pending transactions from a bank feed on or off
You change whether the bank feeds import pending transactions or not with the following steps:
- Go to the Account Summary page ( Accounts > Account Summary)
In the purple toolbar, hover over the Edit bank feeds menu
Click on the bank feed you'd like to make changes to
In the window that opens, choose Bank Feed Options from the left menu
- Check or uncheck the checkbox Include pending transactions
- Click Save