Checking account statements

Zing
Every month, the bank sends me a statement like this.

Zing's checking account statement that shows1 deposit of $10, 3 checks totaling $69.43, and a balance of $93.41. The check register shows 4 checks totaling $105.68, 1 $10 deposit, and a balance of $57.16.

Zoey
The statement shows all the transactions that have been processed by the bank …. like deposits and withdrawals.

Zing
If you earn interest on your checking account, or if you were charged a fee, you’ll see them here too.

Zoey
Make sure to compare your statement with the register, just so you can be sure that you’ve included everything and done the math right.

Zing
Hmmm…Look here. My checkbook shows that I have $ 57.16, but my bank statement shows I have $ 93.41. Cool!

Do I have more money than I think?! Well I don’t think so… it looks like my check number 4 is not on the statement.

Zoey
That means the check hadn’t gone through the bank by the date the bank printed the statement. So now it makes sense — I just subtract the $36.25 from my statement balance, and check it out! — both my check register and my statement are the same. They “balance”!
Zoey
Nice work, Zing!

So be sure to check your statement carefully.

If you forgot to record something, or if you made a mistake entering it or doing the math, it’s important to find it now, so you don’t spend money you don’t have!

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