You’ll be able to accurately answer questions like: Did I spend Doing it monthly can save you from frustrating, not to mention expensive situations, such as overdraft charges, mistakes, and fraudulent activity if your account is ever compromised. Thank you for supporting the work I put into this site!īalancing your checkbook is a really simple, easy task, but it takes lots of discipline and order. Please read my disclaimer for additional details. As an Amazon Associate I earn from qualifying purchases. If you still have trouble reconciling your account, just call the member service number listed on your statement for assistance.*This post may have affiliate links, which means I may receive commissions if you choose to purchase through links I provide (at no extra cost to you). If you still don't match, go back to where you balanced last month and use a calculator to check your adding and subtracting. Review your statement and check register to see if there is an item of the same amount that may have been missed or double counted. If the amounts don't match, calculate the difference. Now the balance of your checkbook should match the adjusted balance on your reconciliation form. Add up the amounts of those and place the sum on Line 3. List the checks, withdrawals, etc., (money subtracted from your account) that you recorded in your check register but which do not appear on the statement. This sum is the subtotal that you enter on Line 2. List any deposits (money added to your account) that you recorded in your check register but which do not appear on the statement. This is a form to help you balance your account.Įnter the balance from the other side of the statement on Line 1. Next go to the reconciliation form this is usually on the back of the statement. This happens because of any outstanding checks and any deposits that you made after the statement was printed. Many times your checkbook balance and the statement won't match, but that's normal. Remember to add to or subtract these amounts from your balance. Enter the fee or interest amounts in your check register.Also check to see if your credit union pays interest on your checking account, if so, the interest amount must be added to your check register. Look to see if you have any other service fees or charges, for checks, ATM withdrawals, credit union services, or automatic deductions (a car loan, for example) listed on your statement.Now look at your check register and place a check mark in the column labeled Code for every deposit on your statement. Now, just as you did with the checks, look at the statement again and find the first deposit listed.These outstanding checks will be listed on a future statement. If you see checks in your check register that are not listed on the statement, then they have not cleared the financial institution yet. Do this for every check on your statement. Find that same check number and place a check mark in the column labeled Code. Look at the statement find the first check number listed.If your credit union returns your checks to you, put them in order according to the check number.To reconcile your account look at your check register and your statement together and compare them. Here is what your statement might look like: Of course, if you want to learn the math behind the program, or you just want to understand the balancing process, then follow the steps below! The easiest way to do this is to use a computerized program. This means that you’ll see how much you deposited into your account, how much you spent, and how much you have left. Many people call this balancing your checkbook. You can use your statement to reconcile, or balance, your account. It will also list the check numbers and amounts. The statement will list the dates and amounts for deposits and withdrawals. Every month your credit union will send you a statement that explains how much money you have saved there.
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