The "Ready" status is essentially your final, manual stamp of approval, confirming that a transaction is 100% complete and ready to be locked down for your official books. Think of it as the final checkpoint before month-end closing!
What is the "Ready" status for?
It's a bookkeeping tag used by those responsible for the final verification. When you mark a transaction as "Ready," you are confirming:
- All necessary documentation (receipts, invoices, etc.) has been attached.
- The expense categories and payment breakdown are correct.
- It moves the transaction's bookkeeping status from "Needs Review" to "Ready."
Before you mark It "Ready" (the prep work)
While the status is "Needs Review," the Edit button is unlocked. This is your chance to get everything right!
- Adjust categories: Use the Edit button to fine-tune the payment breakdown.
- Upload docs: Add any missing attachments in the Add attachment field.
- Eligible transactions: You can mark transactions as "Ready" if their payment status is Paid, Partly Paid, Overpaid, or Received.
Notes: The Internal Communication Hub
Not everyone can mark a transaction as "Ready," but everyone helps get it there! The Notes field is like an internal chat that makes this team effort easy.
How Notes are used
- An Accountant can quickly notify the person who made the payment if a required receipt is missing.
- They can use the Notes to provide context or an explanation for an unusual payment.
Key benefits & information
- Add later: Notes can even be added after a transaction has been marked as "Ready."
- Internal only: Remember that Notes are for internal use only and will not appear in official bookkeeping exports.
Finalising the transaction
Once everything is verified, documented and crystal clear:
- A Creator or Admin changes the status to "Ready."
- The transaction is immediately locked for editing.
This locking step is crucial because it ensures data integrity for tax reporting and makes for a seamless export to your external accounting system.
In short: "Ready" means verified, complete, and locked down for accounting!
Activity overview in Bookkeeping
The Bookkeeping > Activity section features an overview bar that visually tracks the processing status of transactions, specifically showing the count of transactions marked as “Ready.”
You can control the displayed timeframe for this overview using the dropdown menu in the upper-right hand corner of the page. This menu offers predefined options like This Month, Last Month, and Two Months ago etc to adjust the data presented. You can also create custom time frames that suit your needs.