Reconciling or Clearing transactions allows you to check if the records in your bank/credit account match your CARET Legal records.
Reconciliation works with both Trust and Operating bank accounts, but not credit cards accounts. In CARET Legal, you will be able to generate a copy of the bank statements from your banking institution by matching the transactions found in CARET Legal to the transactions found in the bank statement. In the end, the totals and transactions of the Bank statements should match the generated Bank Reconciliation Report in CARET Legal.
Clearing on the other hand works with any credit card, or bank account that CARET Legal can download activity from. This feature matches up every individual transaction between your financial institution and CARET Legal.