If the transaction hasn’t cleared, it won’t be a part of this month’s bank reconciliation. For instance, if you wrote someone a personal check, it could take several days for that person to deposit it in his account and for the funds to be withdrawn from yours. You might realize some recent transactions haven’t cleared the bank and aren’t on your statement. Once all transactions match, you’ve balanced your checkbook. Otherwise, you may need to update your personal register so that it agrees with the bank. You’ll generally have 60 days from the statement date to dispute any charges.
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