What does "Wire in Progress" mean?

Glassboard 2.0 allows for investors to ACH or manually wire in their funds and gives the organizer complete control over reconiling funds.

When investors go through the subscription process on Glassboard 2.0, they will be given the option to either ACH or wire in their funds. When they choose the option to wire, their status will be updated automatically to "Wire in Progress."

The organizer will have insight into the bank transactions to help track all incoming funds. ACH funds will reconcile automatically to the investor's profiles, but manual wires will not. To manually reconcile funds, the organizer will need to first check in the "Transactions" tab to see if the funds have hit the bank account yet. If the funds have arrived, the organizer will be able to mark the funds as received on the the investor profile.

To mark funds as "received", the organizer will need to navigate to the "Investors" tab and "Investments." On the far right side of the page, there is a header that reads "Actions." Below the "Actions" header there will be three small dots for each investor. Clicking the small three dots will display actions that the organizer can take in regards to each investor. If the investor has the status "Wire in Progress", there will be a corresponding action that reads "Mark as Funds Received." Once that action is clicked, the investor will be completed in regards to the funds being received. If their KYC/AML is passed, the documents are signed and their accrediation is passed (for a 506c deal), then the investor will be moved into "Completed" status and will be able to be included in the close.