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How to Balance Your Checkbook
Balance your checkbook within 48 hours of receiving bank statements.
  • This minimizes the chance of errors because there are fewer transactions not included in the bank's statement
  • If there are bank errors, early notification protects you.
Step by Step Instructions
  1. Check off each entry in your check register that appear on your statement. Update your register with any transactions you failed to record and compute your balance. If there are errors on your statement, contact your financial institutions.
  2. Complete the reconciliation form usually found on the back of your bank statement.
  3. Add to the balance any deposits you’ve made that do not appear on the statements (called "outstanding deposits").
  4. Record all checks, withdrawals, or charges that are not checked off in your register. These outstanding items are the ones you’ve written that are not on your statement.
  5. Subtract the total of your outstanding checks and withdrawals from the total of the statement balance and outstanding deposits. This will give you the ending balance that should match your checkbook balance. If it does, congratulations, you're done!
What if it doesn’t balance?
  1. Recheck your addition and substraction in the check register.
  2. Make sure the dollar amount of each check matches the amount you subtracted.
  3. Compute the amount of the difference between the reconcilication balance and your check register balance. Does he difference equal an amount of a check or desposit shown in your register or statement?
  4. If you have checked and rechecked your calculations and still can’t find the error, contact your financial institution’s customer service staff for help.
Tips for the Future
  • Write down each transaction as soon as you've made it
  • Keep all ATM receipts, deposit slip receipts, etc., right in your checkbook.
  • DO NOT add by hand in a hurry!  Enter the  transaction in your register,   but add things up later with a calculator -- it's very frustrating tracking down a nickel discrepancy because of poor addition or subtraction.
  • If you sometimes forget to enter a check -- consider duplicate checks. They cost a little more, but you always have a record of the check you wrote.
  • A money-saving tip: order your checks from a mail order company, not from the bank, for significant savings.
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