How to Find & Fix Checking Account Errors

Video Transcript

"Hi, this is Doug Benson on behalf of Expert Village. I'm going to show you how to balance your checkbook and as a result become a better manager of household finances. In the previous step we've balanced our checkbook. What about when you're faced with a situation where your reconciled balanced does not agree with the balance on the bank statements. That must mean that there is an error somewhere, the error is usually is simple as transposing a number, mistakes in your math, or you may have forgotten to include a ATM or other small fee. Finding the error can be frustrating but it's not impossible go back over your work and compare each number in the transaction register with some numbers on the bank statement. Verify that everything matches and that everything has been included, also take note of any bank fees or interest pay that only shows up on the bank statement. As an example if my balance was off by a dollar fifty I'd begin to examine the bank statement for transactions that equal a dollar fifty. Be diligent and I'm certain that you'll be able to get the register balanced. Watch my next segment as we continue to learn more about balancing your checkbook and becoming a better manager of household finances."