Why is the amount on my Balance Sheet different than the amount on my bank statement?

The value on the Balance Sheet represents all deposits and cheques recorded in the company books up to the date on the Balance Sheet.  The amount on the bank statement only shows the cheques that have been presented to the bank for payment (cashed) and deposits received by the bank as of the date on the statement.  Quite often there are cheques not cashed (outstanding) and possibly deposits that weren't taken to the bank until the next day.