2nd October 2019

daveramsey
16

How do you balance your checking account?

Start with the ending balance on your bank statement and add the deposits that aren't on the statement. Then subtract any transactions that aren't on the statement. The total should match the running balance on your account register. If the numbers don't match up, you've probably forgotten to record a transaction.

Consequently, how often do you balance your checkbook?

Five steps to a balanced account. Whether you track your deposits and withdrawals in your checkbook register, or online, follow the same five steps to balance your account every month: Enter all transactions into your checkbook register each day.

Why do you need to balance your checkbook?

To balance an account, add all your deposits to the beginning balance for an account's statement period and subtract from the subtotal checks you've written, ATM and debit card transactions, cash withdrawals and bank fees. This will determine the ending balance on a given date.

How do I balance my checkbook in Quickbooks?

Reconcile your accounts
  1. Navigate to the Reconcile Menu.
  2. Choose the Account.
  3. Once you've selected your account, click Reconcile Now.
  4. Enter Statement Details.
  5. Back in QuickBooks, you'll see the Reconcile overlay.
  6. Next, enter your statement's Ending Balance on the Reconcile overlay and click OK when you're done.
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