Pending transactions from a bank feed

If you have a bank feed for your accounts you may be importing pending transactions. In this user guide, you can find out what pending transactions are and how to deal with them within PocketSmith.

In this user guide

What is a pending transaction?

A pending transaction is a transaction flagged by a bank if it is not yet confirmed or 'posted'. This means some of the attributes of that transaction (merchant, date, amount etc) may still be subject to change in the coming days. 

⚠️ In PocketSmith, pending transactions are indicated with an exclamation icon on the Transactions page.

For example: 

If a transaction occurs during the weekend, the date of a transaction might show incorrectly or a temporary name might be displayed for the merchant, until the coming business days when the details can be correctly displayed.

After a few days (generally between one to four days), once the transaction is confirmed by the bank, the pending transaction is removed and replaced 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

Why do the categories, labels and other alterations applied to my transactions change

PocketSmith tries to migrate 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. If the merchant name has changed between the pending transaction becoming a 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 that you wait until your pending transactions have become 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.

Turning pending transactions from a bank feed on or off

You change whether or not the bank feeds import pending transactions with the following steps:

1
Go to the Account Summary page ( Accounts > Account Summary)
2

In the purple toolbar, hover over the Edit bank feeds menu

3

Click on the bank feed you'd like to make changes to

4

In the window that opens, choose Bank Feed Options from the left menu

5
Check or uncheck the checkbox Include pending transactions
6
Click Save

Still need help? Contact Us Contact Us