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A statement review is not simply a search for an unfamiliar charge. It is a way to establish what happened during a defined period, compare it with your own records, and carry unfinished items into the next review. Separating the statement from today’s live account view makes the process much clearer.
Start with the statement period
Read the opening and closing dates before comparing balances. A statement is a historical record for that period; a live balance can include activity that happened afterward. Set aside later transactions while checking whether the statement itself matches your records.
Gather your previous statement, payment notes, deposit confirmations, and receipts that matter. LMCU’s checking help describes PDF eStatements and cautions that older statements may not remain available online. Save records privately using a consistent naming pattern so they are easy to retrieve.
Match posted items first
Work through deposits and withdrawals one at a time. Compare each amount with a receipt, bill, transfer record, or other known activity, and mark it matched only when you can explain it. A transfer between your own accounts should have a corresponding entry on the other account; it should not be mistaken for new income.
For the statement period, verify that the opening balance plus posted credits minus posted debits equals the closing balance. Include fees, dividends, refunds, and adjustments as they appear. If the arithmetic does not reconcile, check for a missing line or transcription mistake before drawing conclusions.
Keep pending and outstanding items in a separate list
A pending card authorization is not the same record as a final posted charge. LMCU notes that descriptions can change as card transactions finish processing. Compare merchant, amount, and timing carefully rather than matching by description alone.
Use a separate list for pending activity, checks you wrote that have not cleared, and scheduled payments that have not posted. Do not insert them into the statement’s arithmetic. For spending decisions, consider these commitments without subtracting an authorization twice if it already reduces the displayed available balance.
Turn differences into precise questions
For each unresolved item, note the date, amount, statement description, what you expected, and what evidence you have. Label whether it is posted, pending, missing, or unexplained. This creates a useful starting point for a conversation with the institution or merchant.
In a fictional example, Chris sees a restaurant authorization and a later posted amount that includes a tip. Chris matches the receipt to the posted amount and keeps the remaining authorization under review instead of automatically treating both as completed purchases. If two final charges remain, Chris has the dates and receipt ready to ask about them.
Respond promptly and keep the record private
Do not postpone a suspected unauthorized transaction until the next monthly review. Contact LMCU through its official website, app, or a verified number, and follow the reporting instructions and time limits in your account disclosures. This organizational workflow does not determine dispute rights or guarantee a refund.
Store full statements securely. If you need to discuss an issue outside the institution’s secure channel, avoid sharing complete account numbers or unnecessary transaction history. Keep a short record of whom you contacted, the reference provided, and the next step.
Finish by carrying unresolved items forward and marking resolved ones complete. Connect the next review to your bill calendar and deposit log. Consistency matters more than building an elaborate tracking system.
Use a short review worksheet
A private worksheet needs only enough detail to show how you reached your conclusion. Begin with the statement period and its opening and closing balances. Then keep three sections: matched posted items, unresolved posted items, and activity outside the statement such as pending or later transactions.
- Matched: the transaction and the record that explains it.
- Unresolved: the amount, date, question, and next person or channel to contact.
- Outstanding: a payment or deposit you expected that has not appeared as a posted item.
- Follow-up: the date you checked, the answer received, and what remains to do.
Do not let an unanswered item disappear when you begin the next month’s worksheet. Carry it forward with the latest information, while avoiding duplicate entries that make one issue look like several separate problems.
Walk through a reconciliation difference
Consider a fictional statement that closes on the last day of the month. Taylor compares it with the app three days later and sees a different balance. Instead of assuming an error, Taylor first isolates the later payroll deposit and two later purchases. Those items explain part of the difference but do not belong in the earlier statement calculation.
Taylor then notices a scheduled bill still absent from the posted list. It remains an outstanding commitment in Taylor’s spending plan, not a missing debit that should be inserted into the statement. Finally, a small adjustment on the statement has no matching receipt. Taylor records that item as a specific question with its date and amount.
This approach separates three distinct issues: timing after the closing date, money committed but not yet posted, and an entry that needs explanation. Trying to resolve all three by forcing the live balance to equal the statement balance would obscure the actual question. Once an explanation or correction arrives, update the worksheet and retain the relevant reference. You can then start the next review from a known position rather than repeating the same investigation.
Sources and limits
Public sources checked November 4, 2026. The checklists and fictional examples are educational analysis, not a private-account test or individualized financial advice.
- LMCU Checking Account Help: PDF eStatement access and older-statement retention caution; transaction descriptions can change between authorization and posting.