How to Reconcile Your Checking Account
In today’s fast-paced world, it can be hard to keep up with a checking account, especially if more than one person is using the account. It is important to occasionally take the time to compare the transactions you have on file to your most recent bank statement, which is also called reconciling your checking account.
- Visit your bank, and ask them to print out the recent transaction history for your checking account. The transactions over the last month will probably suffice. You can ask the bank to print out the history from as far back as you'd like.
- Find the check registry in your checkbook. Some people keep their records on the computer in a document form. If this is the case, access the checking account info you have on your computer.
- Compare the recent bank statement transactions to the ones you have documented in your checkbook or on the computer. Write down and transactions that are not included on your record or the bank statement on a separate sheet of paper with a pen or type them in a word document on the computer. Anything that is not on the bank statement that is on your records could be a bank error. Your concluding balance should match the bank balance at the bottom of the statement.
- Report any differences you see to the bank to make sure the transactions are correct. Watch out for unauthorized transactions. Any charges made to your card will typically show a phone number you can call for more information on the transaction.