How Auto Clear Works

How Auto Clear Works

Auto Clear is a feature that you can configure and enable for projects to more easily manage the status of pending deposits in your files. When enabled, Auto Clear will automatically update the status of deposits for each unit from '-Select-' or 'Pending' to 'Clear' on a daily basis (at 12:01 am), based on four criteria being met.

Four Criteria

For Auto Clear to automatically update a deposit, the following criteria must be met:
  1. A Payment Method is selected for the deposit (in the file);
  2. A Deposited date is entered for the deposit (in the file);
  3. The Status of the deposit has not been manually selected or changed (in the file); and
  4. The Number of Days set in Firm Settings for the applicable method of payment has passed (measured from the Deposited date).
See examples of how Auto Clear works at the end of this article.

Deposit details for a unit shown on the file’s Deposit & Release screen.

How to Enable and Configure Auto Clear

The Auto Clear setup is accessed through Tools > Firm Settings. Select and enter your preferred settings to enable and configure the feature for projects. Then click the save button.

Auto Clear settings on the Firm Settings screen.
  1. Enable for New Projects: Enables automatic clearing to run for all new projects created after July 25, 2023. Do not enable it if you wish to continue clearing deposits manually.
  2. Set Default Payment Method: Select a default payment method for all deposits, such as Cheque (method can be changed per deposit in your files).
  3. Run Auto Clear on: Sets to Business Days, but can be changed to Calendar Days if preferred. If Business Days is used, the feature will not run on weekends or holidays.
To run deposit updates immediately for all enabled projects, click the Run Auto Clear icon at any time.
  1. Auto Clear Rules: Set the Number of Days the system should wait to clear a deposit for each payment method (such as 10 days for Cheques). Each method can be set to clear based on a different number of days.

Enabling Auto Clear for Individual Projects

If you want Auto Clear to run for a project that was created before July 25, 2023, or if you want to choose which specific projects will use the feature ongoing, simply enable or disable this feature in the applicable project(s).

Access the project you want to review or update via Admin > Edit Project. Then navigate to the Deposit & Release screen to check or uncheck the Enable Auto Clear box as applicable.

Examples of How Auto Clear Works

The following examples assume Auto Clear is enabled for the project in question.
  1. If your file indicates that a deposit of $10,000 was paid by wire today, and your Firm Settings indicate that  ‘Wire’ takes 0 days to clear, Auto Clear will run that night and the deposit status in the file will automatically update from ‘-Select-’ or ‘Pending’ to ‘Clear’ by the next day.
  2. If your file indicates that a deposit of $50,000 was paid by cheque on January 1st, and your Firm Settings indicate that Auto Clear should run on Calendar Days and ‘Cheques’ take 10 days to clear, then the deposit status in your file will automatically update from ‘-Select-’ or ‘Pending’ to ‘Clear’ on January 12th.

    In the same scenario as above, if your settings indicate Auto Clear should run on Business Days, the deposit status will update later than January 12th, based on how many weekends and holidays fall within the 10-day clearing period.

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