How to Balance a Checkbook Register

Balancing a checkbook register is important so that you stay aware of your financial situation from month to month. It is imperative that the amount of money that you think you have and the amount of money that your bank thinks you have is the same figure. Learn how to balance a checkbook register and take the time to balance your checkbook each month to make sure that your finances are correct and accurate.

Things You'll Need

• Bank statements
• Checkbook register
• Calculator

Instructions

1. Verify your checks to ensure that the dollar amounts you wrote on your checks matches the dollar amounts on your bank statement. As you go through and verify your checks, place a small check beside each check that is listed in the checkbook register so that you know which checks have been verified. Expect that there will be some checks that are not included on your bank statement. These checks will be taken care of later.

2. Verify your deposits by checking to ensure that the dollar amounts of the deposits you have recorded in your check register are the same as the dollar amounts listed on your bank statement. Place a small check mark beside each deposit that is verified. Expect that there will be some deposits that are not included on your bank statement. These deposits will be taken care of later.

3. Check any ATM banking transactions that you performed and debit card purchases you made. Make sure that these dollar amounts are listed the same on your bank statement and on your checkbook register. Place a small check mark beside each verified transaction. Again, there may be some of these transactions that are not listed on your bank statement. They will be taken care of later.

4. Check your bank statement to see if your checking account earned any interest. If it did, make an entry for "interest" in your checkbook register and add this amount to your checkbook balance.

5. Check your bank statement to see if your checking account accrued any bank fees. If it did, make an entry for "bank fees" in your checkbook register and subtract this amount from your checkbook balance.

6. List all outstanding transactions on the form on the back of your bank statement. Outstanding transactions are any account activities that were not included on your most current bank statement. This includes checks, deposits, ATM activity and debit card purchases. Total the columns of outstanding transactions so that you have a total for deductions and a total for deposits to your checking account.

7. Enter the ending balance from your bank statement onto the first line of the work area on your bank statement. On the second line, enter the amount of outstanding deposits from back side of the bank statement. On the third line enter the amount of outstanding deductions from the back side of the bank statement.

8. Use a calculator to add the ending balance shown on your bank statement with your outstanding deposits. Next, subtract your outstanding deductions to find your adjusted checking account balance. Your adjusted balance should match the balance shown in your checkbook register. If the two figures do not match, go back and check your amounts and your figuring. If the two figures match you are finished until next month.