BigRedConsulting
Community Champion

Banking

The account balance on your chart of accounts will only match the reconciled balance / statement ending balance when everything in the account is cleared.

 

For most bank accounts - those in regular use -  that'll never happen because you'll always have new transactions that were created after the statement date, and perhaps even older ones that haven't cleared - like a check you wrote to someone who just sits on it and doesn't cash it.