Deposit readiness
Deposit readiness tracks the operational status of an expected reservation deposit. It helps Sales and Administration see whether a deposit is expected, due, supported by submitted proof, overdue, or linked to a separately recorded payment.
It is an attention and coordination tool—not the financial ledger.
Information to review
Deposit readiness may include:
- expected deposit amount;
- due date;
- current readiness status;
- proof-submitted indicator;
- proof or document link;
- confirmation or review date;
- assigned owner;
- notes; and
- optional link to an existing payment record.
Operational statuses
The exact live labels should be verified, but staff should distinguish conditions such as:
- expected/not yet due;
- due today or due soon;
- proof requested;
- proof submitted and awaiting review;
- overdue;
- linked to a verified payment; and
- no longer applicable because the reservation was released or cancelled.
Do not mark a status financially confirmed without following the Finance procedure.
Deposit readiness cannot create a payment, confirm a bank transfer automatically, generate a receipt, alter a balance, or replace the payment ledger. Record and verify the payment separately.
When proof is submitted
- Record that proof was received.
- Confirm it belongs to the correct buyer and reservation.
- Assign Finance review.
- Enter or confirm the reference information available.
- Keep buyer communication accurate: proof received and under review.
- Finance verifies the transaction through the approved source.
- Finance searches for and records the payment.
- Link the existing payment where supported.
- Update operational readiness and reservation follow-up separately.
Overdue readiness
When the expected date passes:
- review buyer activity;
- check whether proof or a payment was received elsewhere;
- review the reservation expiry;
- contact the buyer according to the approved process;
- assign any internal Finance check;
- record the result; and
- decide whether extension, continued follow-up, or release is required.
Do not move the due date just to remove the overdue indicator.
Example: proof submitted but no bank reference
A fictional buyer, Tanya Training, uploads a transfer screenshot before reservation expiry, but the bank reference is missing.
- Deposit readiness is updated to show proof received and awaiting verification.
- Finance reviews the proof and requests/locates the reference.
- No payment is created until the transaction is verified according to policy.
- The reservation owner monitors the expiry and obtains any approved extension.
- After verification, Finance records the payment and the readiness record links to it where supported.
- If verification fails, the reservation outcome is handled separately.
Common mistakes
- Treating proof-submitted as paid.
- Entering the expected amount as a financial transaction.
- Updating readiness without the correct reservation.
- Allowing an overdue item to remain without owner or next action.
- Linking the wrong payment because amount/date look similar.
- Using readiness notes to store banking details.
- Forgetting to update the reservation after Finance review.