Balancing the checkbook and the works??

Question

I've been keeping track of my checking account with QuickBooks, putting in every check I write and everything else.

I got my bank statement the other day, the dollar amounts match but the cent part doesn't it's like 20 cents off.

Should I not worry about it or what? What would you do?

Answer 1

I will assume both the bank and Quickbooks did the math correctly (but you could double check). 20 cents is to small to be a fee. It could be interest if your account earns interest. There should be a separate line on your bank statement if that is the case. There are 2 remaining possibilities. First, did you and the bank use the same STARTING balance? second, you and the bank recorded something for different amounts. If either of these is the case, you are probably better off accepting the banks number. If they are wrong, the effort to correct the bank is probably worth more than 20 cents.

Answer 2

Well the easiest way to find out the problem is to check both the bank statement and quickbooks to see if every entry matches. The other possibility is that you wrote a check for $.20 that hasn't cleared yet.

Answer 3

1st of all it is great you are keeping track.

If the 20 cents is in your favor (ie your bank statement has 20 cents more then your check book says) then you may have earned interest on your account wait until next month and if the bank still says you have 20 cents then add it in.

If the 20 cents is against you (ie your check book is higer then the bank statement) I would just take the 20 cents out of your book and go with what the bank says.

Answer 4

No do no longer open a clean account. Openning a clean account won't resolve something yet will in simple terms circulate a clean issue commence from the place you're. I rather have a tendency to maintain music and then fall off beam and then lower back on course. try printing out a assertion for permit's say would and reproduction it into your checkbook then while would's finished proceed on into this month and additionally you will have the capacity to go forward. i would not go lower back too a ways until eventually you opt for too. In banking you won't manage to easily wish issues will artwork that's way out. you will make your way into Chexsystems (no longer with the flexibility to open a clean account in any respect at any economic institution) solid success

Answer 5

It is good to keep track down to the penny. It is possible that it was interest?