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Reconciliation is a legislative process of the United States Congress that allows expedited passage of certain budgetary legislation on spending, revenues, and the federal debt limit with a simple majority vote in both the House and Senate. Senate rules prohibit filibustering and impose a 20-hour cap on the total time for debate, motions and amendments related to reconciliation bills. The procedure also exists in the House of Representatives, but the House regularly passes rules that constrain d
Rating Newest Oldest. Best Answer: Reconciliation is the process of noting which checks and deposits you recorded in your books cleared the bank. So, if something is pending, it has not yet cleared your bank account...it is outstanding. It it is cleared, it has been processed by your bank. Reconciled means that you have compared the cash transactiont you recorded in your books with what the bank shows as having been processed and have appropriately recorded these transactions as cleared or outstanding (pending)