Definition of a Checkbook Register

Utilizing a checkbook register, whether it's a traditional version done manually or an online spreadsheet, is critical for proper money management.

Checkbook registers are a key component serving to track an individual, household or business account's deposits, checks and debits, both at-a-glance and in depth. Checkbook registers, particularly computer software editions, are an excellent tool assisting account holders with money management and account balancing. Checkbook registers are available in several formats and can be tailored to suit specific needs.

Types

Checkbook registers are available in many styles and forms. The small, manual paper version attached to the actual checkbook remains popular. Some business accounts utilize a large, spiral-bound checkbook with a register and ledger on the side. Checkbook register software programs, including spreadsheets and ledgers, have gained in popularity and some versions are available online for free.

Function

Checkbook registers are versatile. Individual or business bookkeepers have the ability to keep a meticulous record of teller deposits, direct deposits, written checks, electronic debits and a running ledger balance by utilizing a register. Registers provide space to enter date, check number, amount, payable party and additional notes on the debit side of the ledger. The same premise holds true for deposits. The ledger format, via addition or subtraction, illustrates the balance of the account after each check, debit or deposit is accounted.

Software Features

Computer-driven checkbook register software is equipped to illustrate monthly expenditures and income. The software is programmable to meet the specific needs of any individual or business and provide at-a-glance information, charts, graphics and percentages showing when and how funds are allocated.

Benefits

Utilizing a software program takes the guesswork out of balancing a checking account. Debits and credits are automatically added and subtracted when entered. This alleviates an account having to complete manual math. All checkbook registers are designed to allow an account holder the ability to see a current balance and double-check math and examine expenditures.

Warning

Don't trust math skills and a calculator when balancing a checking account. Save debit card purchase and automatic teller machine withdrawal receipts. It is easy and common to omit recording these debits into the checkbook register,throwing the account out of balance. Check paper receipts and any automatic online bill paying debits against the checkbook register entries regularly. Don't assume your register is correct. Visit the online version of your bank statement regularly and search for debits that aren't accounted for in the register. Note the number of any voided checks in the register.

References

• Checkbook Register: How to Use a Checkbook Register
• Money Instructor: Check Register Practice Form
• Office Microsoft: Free Downloadable Check Register Template
• NerdTest: Free Downloadable Checkbook Software
• Cook and Company: Opening a Business Checking Account

Resources

• Money Instructor: Checkbook Register Lesson
• Student Finance Domain: How to Balance a Checkbook