How do I balance my checkbook?

Eight Steps to Balancing

  1. Record Interest Earned. …
  2. Record Service Charges, Etc. …
  3. Verify Deposit Amounts. …
  4. Match All Check Entries. …
  5. Check for Outstanding Items from Previous Statements. …
  6. Verify Other Debits on Statement. …
  7. List All Outstanding Checks. …
  8. Balance.

How do you balance a checkbook example?

Quote from video: Follow these simple steps and the result will be a stress-free balanced checkbook use the fifth column of the register to check off the items in your register. As you go down your bank statement.

Do you know how do you balance a checkbook?

The first step to balancing a checkbook is to list each transaction as it occurs. This includes each check you write and any deposits you make, as well as all debit card swipes, ATM withdrawals and assessed bank fees. Always keep a running balance by subtracting the withdrawals and adding the credits.

How often should I balance my checkbook?

Commit to balancing your checkbook on a weekly basis, which may be easier than trying to do it once a month or less often. Recording transactions daily, then balancing at the end of the week, can help keep the system as simple and error-free as possible.

How do you reconcile a check register?

Bank reconciliation example steps



Place a check mark next to all the transactions in your register that appear on your latest bank statement. Total all the transactions that you’ve recorded in your register but that don’t appear on your statement. If it’s a negative sum, subtract it from your statement balance.

How does balancing a checkbook work?

Balancing your checkbook, which is also known as reconciling your account, is basically about making sure that the records you have kept for your financial transactions match those the bank lists on your statement.