check book?

Question

can someone out there please tell me how to balance a checkbook,or tell me of a good website that can explain it to me to where it doesn't sound like a foreign language.
thank you

Answer 1

It's a lot to explain, but if you message me I will gladly explain it to you. IM me at [e-mail]

Answer 2

To balance your checkbook, you need your checkbook, your current bank statement, and, if you got them, your cancelled checks.

The basic idea is to account for any deposits or withdrawls from your account not recorded in both the chkbook and statement, so that the two records reconcile. For instance, deposits you make to your account that you record in your checkbook, but were made after the period recorded in your statement, need to be added to the balance shown in your bank statement before you can compare the balances.

First, check off each cancelled check (checks that were cashed) in your checkbook. Make sure the amount in your book matches the amount on your check. If there are serious errors, call your bank.

Second, make sure each deposit shown on your statement is recorded in your checkbook, and verify the amounts.

Third, go through the same process with your ATM withdrawls and debit card payments. Make sure amounts match.

Fourth, if you have an interest bearing account, record any interest earned indicated on the statement in your checkbook. If your bank charged you fees, record those in your checkbook as well.

Recalculate your checkbook balance on a new line in your chkbook, subtracting fees and adding any interest earnings.

Fifth, go through your checkbook and find all the outstanding checks that have not cleared/been cashed. Record those on the balancing form that usually comes with your bank statement, or just do it on a blank sheet of paper. Also write down any ATM withdrawls and debits that were done after the statement period. Total all those amounts.

Sixth, total any outstanding deposits to your account that occured after the period of your bank statement.

Now, subtract the total of outstanding checks, ATM withdrawls and debits from the balance shown on your statement. To that number, add the total of any outstanding deposits to your account. That final amount should equal the balance showing in your checkbook. If it does not, check for math errors

Below is a link to help you.

Answer 3

It is actually a relatively simple process, just work from this example- all the operations shown may be repeated as required.

Deposit (money you put in) $100.00 (add this amt)
check #1 (spent) subtract this 10.00 (if needed use red ink to keep track)

amount left $90.00
Check #2 16.51
amount left (balance) $73.49
check #3 22.67
amount left (balance) $ 50.82
Deposit 100.00
balance (amount left) 150.82

All you are doing is adding your deposits/credits,
subtracting checks/debits, and getting the "amount left" as your balance- any money put in is a credit (deposit, error correction what ever- however it goes "in" is a credit) any money taken out is a debit (check, fee, ATM use, however it goes "out" it is a debit) any time you spend more than is "in" you are overdrawn (spent more than you had, and owe the bank).

Answer 4

That your checking account statement, on back it will ask you to list checks or electronic withdrawals you have written that are not on statement. List & add them up. List any deposits not on statement. That closing statement amount deduct check total amounts (fom back), add any deposits not listed & this is the amount of money you have available. If it is different than you checkbook total - look for different check amount or double deposit or missing deposit. If you still have problems, your bank will be happy to show you how to balance & where your mistake is. Good luck!

Answer 5

your actual best bet is to go to your bank, have THEM reconcile your checkbook and teach you how to keep it balanced. this is a free service that all banks offer.

Answer 6

RECORD DEPOSIT, RECORD CHECK WRITTEN, SUBTRACT. NOW YOU HAVE A BALANCE. REPEAT EACH TIME YOU WRITE A CHECK. DEDUCT CHECKING ACCOUNT SERVICE CHARGES. NEXT DEPOSIT ADD TO BALANCE, THEN REPEAT SAME. SIMPLE ADDITION AND SUBTRACTION. YOU REMEMBER 2ND GRADE DON'T YOU?

Answer 7

You add and subtract, deposits, withdrawals, overdrafts and monthly fees if applicable.....

Answer 8

Great site hope it helps.

planabudget.com/check_balancing.htm