Lesson 4 — In Wallet, Under Collection, Cleared
Now the ladder itself, which is three states long and has four exits.
The practice this answers. A cheque physically moves: from a customer's hand to your drawer, from your drawer to a deposit counter, from the counter into your account. The states are not accounting jargon layered over that journey — they are the journey, named.
The main path and its exits. A received cheque moves through In Wallet, then Under Collection after deposit, then Cleared. Four other states exist for the cases where the paper does not behave.
| State | What it means | How the cheque got there |
|---|---|---|
| In Wallet | Registered and held by you | Registered on receipt, or reinstated after a bounce |
| Under Collection | Deposited, with the bank, not yet cleared | The Deposit wizard, first time or on a redeposit |
| Cleared | The bank has honoured it | Detected from bank reconciliation, or set manually |
| Bounced | Returned unpaid, in whole or in part | The Bounce action, with a reason |
| Endorsed | Handed to a supplier to settle what you owe | The Endorse action, and only from In Wallet |
The click path for a deposit. Select several cheques in the Received list and use the Deposit Cheques action, or press Deposit on a single cheque. The wizard takes several cheques at once, which matches how deposits are actually made — a stack of paper, one trip, one slip. The list then refreshes to show the deposited cheques as Under Collection.
Where the deposit slip goes, and why it is worth knowing. With Print deposit slip switched on, the slip is attached to each cheque's chatter. It is not a one-shot download that you must save somewhere or lose: it is a permanent attachment on every cheque in the deposit, and you can reprint it at any time from the list's Print menu. Six months later, when a customer disputes whether a cheque was ever banked, the evidence is on the cheque record rather than in somebody's downloads folder.
The worked example. On 15 October 2026, cheque 004512 goes to the bank with the rest of the day's collection. Its AED 120,000.00 leaves PDC Receivable and arrives in Cheques Under Collection. The bank balance still has not moved, because the bank has not yet cleared anything, and that remains true until the cheque either clears or comes back.
The failure mode. The support call is usually a missing deposit slip, often from someone who reprinted nothing because they assumed the PDF appeared once and was gone. Open any cheque from the deposit, look at the chatter, and the slip is there; or select the cheques in the list and reprint from the Print menu. The habit worth building is to check the state column after every deposit, because a cheque still showing In Wallet after a deposit run was not in the deposit.