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Education: articles
Checking Account Management
 When
done on a routine basis, balancing your checkbook is
easy, satisfying, and painless. On the other hand, when
not balanced on a regular basis, it could be dangerous
to your financial health. Follow these steps to make
your experience quick and easy.
 1.
Gather your deposit and withdrawal slips, your
ATM and SmartCash card receipts, your transaction register,
your monthly statement, and a calculator.
2.
Go through and organize your deposit slips,
withdrawal slips, ATM receipts, and SmartCash card receipts
by date from past-present.
3.
Once organized, record each transaction into
your register booklet (remember to put the transactions
in the appropriate column).
| Number
or Code |
Date |
Transaction
Description |
Payment Amount |
√ |
Fee |
Deposit Amount |
$ 125.00 |
| 123 |
4/29 |
ABC Company |
$ 20 |
00 |
|
|
$ |
|
20 |
00 |
| |
|
|
|
|
|
|
|
|
105 |
00 |
| |
5/5 |
DEPOSIT |
|
|
|
|
234 |
67 |
234 |
67 |
| |
|
XYZ, INC. |
|
|
|
|
|
|
339 |
67 |
4.
Get your monthly statement and verify your
account activity with your Transaction Register (put
a √ in the box once you have verified the transaction).
5.
Record any dividends or fees documented in
your monthly statement into your Transaction Register.
6.
Balance and compare!
If the amounts are the same, all transactions
have posted correctly and your account is balanced.
Great job! If the amounts are not the same, don’t
worry, if you use your account on a regular basis, there
is more of a chance that they will not be equal right
away. But just to be on the safe side, go through the
process one more time to double check your numbers.
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