Cleared Transaction
A cleared transaction is a payment that has been fully processed and posted to the account. It is final and reflected in the ledger balance.
Cleared transactions appear on the bank statement and are used for reconciliation. They typically cannot be reversed without a formal dispute or adjustment.
Related Terms
Ledger Balance
Ledger balance is the account balance at the beginning of a business day, before any transactions ar...
Bank Statement
A bank statement is a document issued by a financial institution that summarizes all transactions in...
Reconciliation
Reconciliation is the process of comparing two sets of records to ensure they match - typically comp...
Posting Date
Posting date is the date a transaction is recorded on your account ledger. It is the date used for s...
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