Here
are a few tips for balancing your check book:
Balance your
checkbook every month. It's much easier to find a mistake
in one month's worth of transactions than waiting until
things get way out of hand.
Keep an accurate register.
Make sure you record your checks correctly, record deposits
correctly, record all ATM and debit card transactions,
and record all fees and dividends.
What is recorded in your
register should match your monthly statement. Indicate
(with a checkmark or some other mark) in your register
what has cleared on your statement. If you find things
on your statements that are not in your register, write
them in and add or subtract accordingly.
Look for common errors:
basic addition and subtraction, reversing numbers, subtracting
a deposit, automatic payments not deducted, ATM/debit
card transactions not deducted, and fees or dividends
not accounted for.
Balancing
There is
a worksheet on the back of the first page of every
statement. It goes through the following procedure
to help you balance.
After you have checked off everything
in your register, start with the end of the month balance
on your statement.
Ending balance from
your statement
$ _________________*
+
Any deposits made that are not
on the statement
+ $ _________________*
=
Subtotal
= $ _________________*
-
Any checks/debits that did not
appear on the statement
- $ _________________*
=
Total
= $ _________________*
*This number should
equal the figure in your checkbook register.
Have any other questions about
balancing your checkbook? Ask a Member
Services Representative by email, click
here. However, please note, this
email link is not sent over a secure connection. Confidential
information should not be included in this method of
communication.
