Keep Up With Your Account

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Each month you will receive a bank statement showing every time money was deposited into or was taken out of your account. Always compare (reconcile) your check register entries with the bank’s entries to make sure they agree. You can do this electronically if you have budgeting software. Do the following to reconcile your account.

1. Gather all checking account records, including deposit and withdrawal slips and ATM/debit card receipts.
   
   
2. Check each item on the statement that matches its corresponding entry in your check register.
   
   
3. Enter any bank charges, including ATM/debit card fees and check printing fees that you may not have recorded. Subtract them from your balance.
   
   
4. Enter any deposits you may not have recorded, including interest if your checking account earns it. Add them to your balance.
   
   
5. Look for unchecked items on your check register. These are items that were not processed before the closing date on your bank statement. Total the outstanding amounts. If a check has not cleared within 7 to 10 days, you should contact the payee and your bank to find out where it is.
   
   
6. Subtract the outstanding total from the ending balance on your bank statement. This number should match the balance in your check register.
   
   
7. If your account does not balance, double-check your register and bank statement to be sure you checked all corresponding items. Make sure you logged them properly. Check your math. If you cannot make the numbers agree, contact your bank.