What Do Payment Statuses Mean?

Each payment on Transactions has one status. Filter by Status to find them, and click Details to act on one. Nothing changes investor capital until a payment reaches Cleared. The books wait too, with two exceptions: Received records cash, and an In Progress ACH payout posts its cash part by part.

Payment Statuses

• Draft: a Payment In someone prepared, or one Syndelo prepared from an investor's notice. Nothing has posted. A second person clicks Approve Payment.
• Approved: approved but not paid yet. For a Payment In, you're waiting for the money. For a payout, it's ready to go in an ACH batch, NACHA file, wire batch or check run.
• In Progress: on its way. It's in an ACH transfer, a NACHA file, a wire batch or a check run. Nothing has posted for NACHA, wire or check payments. An ACH payout posts its cash part by part as each transfer is processed.
• Cleared: the money is confirmed. A Payment In raises investor capital. A payout is posted to the books, and the Payout Payment email goes to the investor.
• Received: an ACH payment in reached your bank, but it can't count toward a pledge, for example because it's more than the pledge or the investor's application is exiting. The cash is held in Money Not Yet Assigned until a reviewer assigns or refunds it. Investor capital doesn't change.
• Failed: it did not go through. For an ACH payment in, nothing posted, so ask the investor to pay again. For an ACH payout, an approver can click Retry, or you can click Switch to Manual.
• Returned: it completed, then came back. For a Payment In, Syndelo posts a reversing entry and capital goes back down. For a payout, the cash goes back on the books and the amount is owed again. The payout itself stands, including tax held back and reinvestment. Pay it again.
• Canceled: an unsent Payment In was cancelled. Its history is kept.

How Each Kind of Payment Moves

• ACH payment in: the investor authorizes the debit, so it starts at In Progress with no approval step. It moves to Cleared on its own when the bank processes it.
• Wire or check payment in: Draft, then Approved, then Cleared when an approver records receipt.
• ACH payout: Approved, then In Progress after a batch is approved, then Cleared when every part is processed.
• NACHA, wire or check payout: Approved, then In Progress, then Cleared when settlement is recorded. Syndelo can't see your bank, so someone has to record it.

The Totals at the Top

• Awaiting Approval: Draft payments plus draft payouts.
• Approved & in Progress: Approved and In Progress payments. Funds have not cleared yet.
• Needs Attention: how many payments are Failed or Returned.

Payout Statuses

A payout on the Payouts tab covers many payments. It shows Draft until approved, then Approved, In Progress while payments are out, Cleared when every payment has cleared, and Needs Attention if any payment failed or came back.

Good to Know

• Failed or returned payments in may need a resolution before you close the books. See Resolve Payment Issues Before Closing.
• Related: What Do ACH Transfer Statuses Mean?, Who Has to Approve Payments, Banks and Payouts?