Phases are used to indicate where money should not be available to the account holder; but should be visible to them (and may be used in calculations).

Funds can be held in three phases:

Committed; these are the funds available to the customer

Pending Incoming; these funds will likely be available to the customer soon. For example, an incoming payment prior to clearing, such as a cheque.

Pending Outgoing; these funds will likely be taken from the customer soon. For example, an outgoing payment prior to clearing, such as a debit card transaction.