StanSoft
699F, Block P, New Alipore, Kolkata – 700 053
Phones : (033)24009240/8804
support@stansoftware.com
www.stansoftware.com

Dear SharePro User,
Let us understand what constitutes a Cleared Receipt from a Client?
When money is received from a Client vide any instrument or mode, the Bank Statement provides a date called Value Date in the statement. This date represents the tentative date when the money will actually be credited in the books of the bank and will be available for deployment. When the Bank Statement is imported into the system to update the BRS, this value date has a special interpretation, especially if today is the value date. 
Read this very carefully. If the value date is the same as today, SharePro uses special logic to treat receipts from a client as cleared or uncleared, especially from the RMS perspective. This stems from the fact that a Cheque received from a client, may actually bounce on the value date. This can lead to issues in RMS. Imagine that a client deposits a cheque from another bank [Clearing cheque] on 10th April. The cheque appears in the Bank Statement with a value date of 12th April. This cheque may actually clear or bounce by the 12th evening. This means that from the perspective of Payouts, etc., it is dangerous to treat this receipt as cleared. For the purpose of RMS and payouts, SharePro treats this cheque as uncleared up to 7 pm on the 12th of AprilBeyond 7 pm, it treats it as a cleared cheque and the fund is available for exposure the next day. Bounced Clearing Cheque should be accounted for by-and-around 7pm.  However, this does not apply to RTGS, NEFT, IMPS, and UPI payments where the mode is recorded in the Cheque number, or a deposited cheque is a BANK TRANSFER, meaning that it is from the same bank as the broker's bank.

How SharePro treats a Receipt
Details Value Date Mode/Type Treatment on
12th April
Before 7pm
Treatment on
12th April
Beyong 7pm
Payment Received on 10th April 12th April NEFT (In Cheque#) Cleared Cleared
Payment Received on 10th April 12th April RTGS (In Cheque#) Cleared Cleared
Payment Received on 10th April 12th April IMPS (In Cheque#) Cleared Cleared
Payment Received on 10th April 12th April UPI (In Cheque#) Cleared Cleared
Payment Received on 10th April 12th April TRANSFER
(Same Bank)
Cleared Cleared
Payment Received on 10th April 12th April CLEARING
(Different Bank)
Uncleared Cleared

We are eagerly waiting for your feedback and suggestions on this subject

SharePro: Handling of Cleared/Uncleared Receipts from Clients