January 26th, 2008
The Easy Way To Balance Your Checkbook
Yes, you can balance your checkbook every month to the penny with a minimum amount of time and effort. It is very important to do so in today’s world to prevent yourself from becoming a victim of fraud and identity theft.
There are a few points to keep in mind when balancing your checkbook. First, the ending balance in your checkbook and the ending balance on the bank statement will not match due to timing. You are balancing your checkbook currently, the bank statement has a closing date which is usually printed at the top of the statement. Second, the only differences that occur between your bank statement and your checkbook are deposits in transit, deposits not recorded, outstanding checks, transfers, and adjustments. And, finally, remember that the bank is always right.