Your saldo contabile at the bank is all the transactions you have made with your account whether they have cleared or not. The saldo liquido is what is available for you to use (also called saldo disponibile), i.e. everything that has cleared. Banks in Italy put a hold on checks for up to 10 days (at least mine does) so when I deposit checks they appear in the first "saldo" but not in the second until they clear. The same thing happens with wire transfers that the bank is "aware" of before the moeny goes into your account.