Note: If an item is outstanding for 60 days or more, contact the person or company you wrote the check to and see if the check has been received. Check for Outstanding Items from Previous Statementsīe sure that all of the outstanding items from your previous statements have been included in this statement. Note: If you do not have cancelled checks or images returned with your statement, contact your branch and have them send a copy of the item in question.

Remember some items will not be checked off.

Simply look at and/or recheck your canceled checks or check images, deposit receipts, and/or ATM and receipts.

Your check numbers were listed incorrectly.

The item was paid or was credited to your account for the wrong amount, or.

The item was recorded incorrectly in your checkbook register,.If they, don’t match, circle the item in both places so that you can come back to fix the error once all of the transactions have been checked off. If these items match, place a check '✓' mark next to the transaction in both your register and on the statement. Compare check numbers, dates, and dollar amounts on all checks written. Match the entries in your register with the transactions listed on your statement. Tip: Use the worksheet on the back of your statement. Make a list of any deposits that are listed in your register but do not appear on your statement. Look at your latest statement and verify that all deposits listed match the deposit amounts listed in your checkbook register. Subtract these charges from your register balance. In your checkbook register, record any charges that have been subtracted from your account, as shown on your statement. Be sure to record any other credit amounts listed, such as corrections by the institution. The interest earned will appear on the front of your statement.Īdd this balance. In your checkbook register, enter all of the interest earned on your account (if applicable). Any ATM and/or Visa CheckCard Receipts that you did not record in your checkbook register.Use it along with the following steps to make balancing a snap. On the back of your monthly statement is a handy form to help you balance. And, if for some reason you detect a problem, the sooner you can correct it, the better.īalancing your checkbook each month within a day or two of receiving your statement will not only reduce your stress level, it will lessen the amount of time it takes to complete the task. It’s important to record the transaction at the time you actually write the check, make a withdrawal, or make a deposit.īy recording the transactions and balancing your account total in your checkbook register, you’ll get a clearer picture of your spending habits and know exactly how much money you have. Recording each transaction in your checkbook register and adding or subtracting it from the balance is the first step to simplifying the balancing act.

Remember, it also takes a few days for your checks, ATM/MasterCard, and/or deposit transactions to be recorded on your account. Meanwhile, you are continuing to write checks, make ATM withdrawals and/or deposits, and hopefully, keeping track of these transactions in your checkbook register. Once your statement has closed, it will take a few days for the information to be printed and for it to arrive in the mail. The closing date is usually found in the upper right-hand corner of the first page of your statement. Your statement lists the transactions posted to or cleared to your account as of the closing date. Seldom will your statement and checkbook register agree. This brochure will help simplify the balancing process and hopefully reduce the anxiety level when your statement arrives. Marquette Education Foundation Scholarship ProgramĪ) Nice try, but… - You try to balance your checkbook using pencil and paper, but find it frustrating and have difficulty making the numbers agree.ī) See No Evil - You avoid the frustration altogether by:Ī.) Ignoring your monthly statement altogether,Ĭ.) Keeping an approximation in your head.

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