I just joined and one of my books in my shelf has a note next to it saying

reserved on: 8/27/10 at such and such a time

next line says

status: waiting 48 hrs for other member to confirm that they have credits for this book

What am I supposed to do at this point? Does this happen with all transactions? It gives me the option to PM the person who has it on their wish list. Am I supposed to send them a message and get their address to send the book out?

I appreciate any help!

That means that a member has it on their wish list and have 48 hrs to accept or decline your book.  If they accept it, your message will change to read that they accepted it, and will give you a button to print a wrapper to mail the book.  If they don't accept it in 48 hrs, it will go to the next person waiting for that book on their wish list, or if no one else is wishing, it will just go back on your bookshelf.  There's nothing for you to do right now but wait for that member to accept it.

Welcome to PBS Jacky!  No need for you to do anything yet.  If/when the member confirms to the system they want the book, that box you see will be changed to indicate you need to ship the book - and a button will appear to print the address, and another to indicate when you actually mail the book.

PBS is actually very easy to understand (once you see it work for a bit) and will let you know everything you need to do.  But feel free to ask if you have further questions!

Sometimes when you post a WL book it will seem to get ordered right away, if it on auto request or if the person checks their email and accepts right away.  But sometimes it does go into that 48hr wait, which can be painful.  I just posted a WL book with 568 wishers and the first person that they offered it to has had it "holding" for 44 hours, I am waiting for it to roll to the next person.

But overall they system works great here and I think you will enjoy it.  As the other posters said it is pretty easy.  Welcome.

Nothing to add, just wanted to say welcome to PBS!