#Balanced my checkbook how to#
#Balanced my checkbook update#

Most people who actually balance their checkbooks regularly do it once a month, which is totally acceptable, but if you really want to stay on top of your finances, try balancing your checkbook every week – this way it takes up a lot less time and it’s much easier to sport mistakes. If they match – great, you’re done! If not, you need to go back and find the mistake. Once you’ve recorded all the transactions, compare the resulting number to your current available balance. Once you enter a transaction, either subtract or add the amount to the balance on the statement and record the new number. Then start recording all the transactions that happened since your last bank statement starting with the first one. In addition to the amounts, you should record the date of each transaction, its description and the check number if applicable. Next, write down any pending transactions and record the sums of the checks that you’ve written that haven’t been cleared yet.

#Balanced my checkbook update#

Each time you enter in a new transaction, make sure to update your balance. First of all, use your online banking app to find out your checking account balance and record it in your checkbook. Any time you write a check, make a payment using your debit card, or initiate any other. How do I balance my checkbook?īalancing a checkbook is very easy and you only need to do it a few times to get the hang of it! Here’s how you can balance you checkbook in a few easy steps. Plus, balanking a checkbook every week or so is significnatly easier than doing it every few months. Start with the current balance shown in your checkbook register, then enter (record) any debits or credits that appear on your. Additionally, if you forget about the checks you wrote or transactions you’ve made, you can risk having your account going into overdraft, which means you can end up owing the bank money. Surely, bank mistakes are rare, but they do happen and usually, you only have 60 days to report them, so if you don’t catch the mistake in time, you might lose a large amount of money. Secondly, balancing a checkbook can help you double check your bank to make sure that there hasn’t been any mistake when depositing or withdrawing funds. If you don’t, they will start making larger withdrawals, potentially causing you to love thousands of dollars. Why do I need to balance my checkbook?īelieve it or not, you absolutely need to balance your checkbook even if you don’t write any checks! You may think that balancing a checkbook is a thing of the past since you have access to internet and mobile banking literally at the tips of your fingers, but even today there are still lots of reasons to balance your checkbook regularly.įirst of all, balancing a checkbook can help protect you against financial fraud since often times identity thieves will make a very small withdrawal from your bank account and watch if you notice.

#Balanced my checkbook how to#

We’re here to help you understand why you need to balance your checkbook, how often you’re supposed to do it and, finally, how to balance a checkbook. There are millions of Americans who don’t balance their checkbooks and don’t even know how often or why they are supposed to do it. Let’s be frank – you probably know that you’re supposed to balance your checkbook but you most likely never do it. How often should I balance my checkbook?.* The 'Sync for 4 Users' purchase is a auto-renewing monthly subscription. Filter transactions by cleared or uncleared status Schedule recurring transactions (weekly, biweekly, and monthly) Sync data with other users and devices *Coming soon* Never forget your checkbook register or have to do math again! Balance My Checkbook replaces your paper checkbook register with a simple and easy to use interface on your phone. Now it's easier than ever to track your checks and balance your checkbook. Please buy 'Balance My Checkbook' instead.