Balancing your check book

AlexLike a savings accounts, you’ll get a monthly statement for your checking account. Take a closer look at this statement. You can see the number and the amount of each check you wrote. You can also see the deposits you made. And if you pay an account fee, you’ll see it here too. On the back, there’s a worksheet.

Checking account statement

AlexThe next step is to balance your checking account. It’s simple — in just a few steps you’ll be sure that all your deposits and withdrawals during the last month are recorded in your checkbook and that you’ve done all the calculations accurately.

When you’re done, the balance on your statement worksheet should be the same as the balance in your checkbook. In other words, they should “balance,” get it?

AlexIf they don’t balance, it may be that some of your checks or deposits in your register aren’t on your statement. That’s because the checks weren’t processed by the bank before the statement date. But don’t worry — they’ll show up on your next statement.

If you use online banking, your account activity is usually updated daily, or even immediately, so you quickly find out whether a check or deposit has cleared your bank.

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