8 steps for balancing your checkbook

These steps will help simplify the balancing process and hopefully reduce the anxiety level when your statement arrives.

How your statement works.

Seldom will your statement and checkbook register agree. But, that is no reason to panic. It’s merely a matter of timing. Your statement lists the transactions posted to or cleared to your account as of the closing date. The closing date is usually found in the upper right-hand corner of the first page of your statement. Once your statement has closed, it will take a few days for the information to be printed and for it to arrive in the mail. Meanwhile, you are continuing to write checks, make ATM withdrawals and/or deposits, and hopefully, keeping track of these transactions in your checkbook register. Remember, it also takes a few days for your checks, ATM, Visa Check Card, and/or deposit transactions to be recorded on your account.

Record, Balance, Repeat

Recording each transaction in your checkbook register and adding or subtracting it from the balance is the first step to simplifying the balancing act.
It’s important to record the transaction at the time you actually write the check, make a withdrawal, or make a deposit.

By recording the transactions and balancing your account total in your checkbook register, you’ll get a clearer picture of your spending habits and know exactly how much money you have. And, if for some reason you detect a problem, the sooner you can correct it, the better.

The Balancing Act

Balancing your checkbook each month within a day or two of receiving your statement will not only reduce your stress level, it will lessen the amount of time it takes to complete the task. On the back of your monthly statement is a handy form to help you balance. Use it along with the following steps to make balancing a snap.

Before You Begin

Gather the following:

  • Your last two statements
  • Your checkbook and register
  • Any ATM and/or Visa CheckCard Receipts that you did not record in your checkbook register
  • A pencil
  • A calculator

STEP 1

Record Interest Earned in your checkbook register, enter all of the interest earned on your account (if applicable). The interest earned will appear on the front of your statement. Add this balance. Be sure to record any other credit amounts listed, such as corrections by the institution.

STEP 2

Record Service Charges, etc in your checkbook register, record any charges that have been subtracted from your account, as shown on your statement. These charges may include:

  • Monthly services charges
  • Per check charges
  • ATM transaction charges
  • Non-sufficient funds fees

STEP 3

Verify Deposit Amounts. Look at your latest statement and verify that all deposits listed match the deposit amounts listed in your checkbook register. Make a list of any deposits that are listed in your register but do not appear on your statement. Add these together.

Tip: Use the worksheet on the back of your statement.

STEP 4

Match All Check Entries. Match the entries in your register with the transactions listed on your statement. Compare check numbers, dates, and dollar amounts on all checks written. If these items match, place a check “P” mark next to the transaction in both your register and on the statement.
If they, don’t match, circle the item in both places so that you can come back to fix the error once all of the transactions have been checked off.

If Transactions don’t match, check for one of three errors
1.
The item was recorded incorrectly in your checkbook register
2. The item paid or was credited to your account for the wrong amount
3. Your check numbers were listed incorrectly.

To Correct the Errors
1.
Simply look at and/or recheck your canceled checks or check images, deposit receipts, and/or ATM and Visa Check Card receipts.
2. Remember some items will not be checked off. These are called “outstanding items.”

Note: If you do not have cancelled checks or images returned with your statement, contact your branch and have them send a copy of the item in question.

STEP 5

Check for Outstanding Items From Previous Statements. Be sure that all of the outstanding items from your previous statements have been included in this statement. Otherwise, they are still outstanding.

Note: If an item is outstanding for 60 days or more, contact the person or company you wrote the check to and see if the check has been received. If it hasn’t, the check may have been lost and you may want to call the bank and place a stop payment.

STEP 6

Verify Other Debits on Statement. Verify that additional withdrawals listed on your statement, other than chekcs, are charged for the amount actually drawn. This includes ATM withdrawals, debit card transactions, and any automatic debit transactions like insurance payments, loan and / or utility payments.

STEP 7

List All Outstanding Checks. Make a list of all outstanding checks or ATM/Visa Check card withdrawals. These are transactions that appear in your checkbook register that do not have a check “P” mark next to them. Add these items together. Tip: Use the worksheet on the back of your statement.

STEP 8

Balance. Now, balance your checkbook register with your statement. Use the formula below, which is also located on the worksheet on the back of your statement.

Compare

Compare this total with the ending balance in your checkbook register. They should be the same. If not, there’s a mistake. Do Not Panic! This can be easily fixed. If they are the same Congratulations! You’ve successfully balanced your checkbook.

If Things Don’t Add Up

  • Take a short break to clear your head.
  • Start by re-verifying your outstanding items.

What’s the difference? 

Is your checkbook balance higher or lower than your statement? Subtract the smaller figure from the larger one to get the difference. Now… Divide the difference by 9. If 9 goes in evenly (that is, with nothing left over), the problem is transposed numbers. For example, $258 was recorded as $285. Look over your receipts and cancelled checks and double-check your amounts. Divide the difference by 2. If the answer you get is a “normal” dollars-and-cents amount (i.e., $7.19 rather than $15.125), look for that amount in your register—it was added instead of subtracted, or vice versa.

Still Doesn’t Balance?

You’ve tried hard and made every effort. Now it’s time to ask for help. Call or come by one of our branches. You will need to bring in your current statement and your checkbook register. Every effort will be made to assist you to balance, and next time it will be easier.

You are about to leave bradfordbank.com.
Bradford National Bank is NOT responsible for the content and/or the website you are about to access.

To exit click outside of box.

You are about to leave bradfordbank.com and visit our partner site, College Ave. Bradford National Bank is NOT responsible for the content and/or the website you are about to access.

 

You are about to leave bradfordbank.com and visit our partner site, College Ave. Bradford National Bank is NOT responsible for the content and/or the website you are about to access.

 

You are about to leave bradfordbank.com and visit our partner site, College Ave. Bradford National Bank is NOT responsible for the content and/or the website you are about to access.

 

You are about to leave bradfordbank.com and visit our partner site, College Ave. Bradford National Bank is NOT responsible for the content and/or the website you are about to access.

 

You are about to leave bradfordbank.com and visit our partner site, College Ave. Bradford National Bank is NOT responsible for the content and/or the website you are about to access.

 

You are about to leave bradfordbank.com and visit our partner site, College Ave. Bradford National Bank is NOT responsible for the content and/or the website you are about to access.

 

You are about to leave bradfordbank.com.
Bradford National Bank is NOT responsible for the content and/or the website you are about to access.

To exit click outside of white box.

You are about to leave bradfordbank.com.
Bradford National Bank is NOT responsible for the content and/or the website you are about to access.

To exit click outside of box.

You are about to leave bradfordbank.com.
Bradford National Bank is NOT responsible for the content and/or the website you are about to access.

To exit click outside of box.

You are about to leave bradfordbank.com.
Bradford National Bank is NOT responsible for the content and/or the website you are about to access.

To exit click outside of box.

You are about to leave bradfordbank.com.
Bradford National Bank is NOT responsible for the content and/or the website you are about to access.

To exit click outside of box.

To sign-up for Bradford Touch Mobile Banking

  1. Log in to your online banking account.
  2. You will be prompted to sign-up for Bradford Touch Mobile Banking. Select “accept,” “decline,” or “Ask Me Later.”
  3. View and accept the Terms and Conditions. Click continue.
  4. Select whether you would like to have the Mobile Browser, Text Messaging, Alerts, the App or all of them.
  5. If you would like the App, enter your mobile phone number and click Send. A text message will be sent to your phone with the link to activate your Bradford Touch Mobile Banking.
  6. Select the accounts you want access to and your time zone. Click Continue.
  7. Enter your phone number and click continue. You will receive a text message.
  8. Enter activation code that is texted to your phone. (This happens quickly, so make sure you are able to receive texts).
  9. Then, click Go to Mobile Banking Main Menu, or “Exit Mobile Banking”

To Download the Bradford Touch Mobile Banking App

  1. Go to the App Store and type in Bradford National Bank
  2. Click to download the App.
  3. Once downloaded, click on the BNB app.
  4. Type in the App Code: GoMobile1449 to activate.
  5. Type in your username
  6. Answer your security question
  7. Enter your password
  8. You are ready to bank from your phone.

To exit click outside of box.

You are about to leave bradfordbank.com.
Bradford National Bank is NOT responsible for the content and/or the website you are about to access.

To exit click outside of box.

You are about to leave bradfordbank.com.
Bradford National Bank is NOT responsible for the content and/or the website you are about to access.

To exit click outside of box.

You are about to leave bradfordbank.com.
Bradford National Bank is NOT responsible for the content and/or the website you are about to access.

To exit click outside of box.

You are about to leave bradfordbank.com.
Bradford National Bank is NOT responsible for the content and/or the website you are about to access.

To exit click outside of box.

You are about to leave bradfordbank.com.
Bradford National Bank is NOT responsible for the content and/or the website you are about to access.

To exit click outside of box.

You are about to leave bradfordbank.com.
Bradford National Bank is NOT responsible for the content and/or the website you are about to access.

To exit click outside of box.

You are about to leave bradfordbank.com.
Bradford National Bank is NOT responsible for the content and/or the website you are about to access.

To exit click outside of box.

You are about to leave bradfordbank.com.
Bradford National Bank is NOT responsible for the content and/or the website you are about to access.

To exit click outside of box.

You are about to leave bradfordbank.com.
Bradford National Bank is NOT responsible for the content and/or the website you are about to access.

To exit click outside of box.

You are about to leave bradfordbank.com.
Bradford National Bank is NOT responsible for the content and/or the website you are about to access.

To exit click outside of box.

You are about to leave bradfordbank.com.
Bradford National Bank is NOT responsible for the content and/or the website you are about to access.

To exit click outside of white box.

You are about to leave bradfordbank.com.
Bradford National Bank is NOT responsible for the content and/or the website you are about to access.

To exit click outside of box.

You are about to leave bradfordbank.com.
Bradford National Bank is NOT responsible for the content and/or the website you are about to access.

To exit click outside of box.

You are about to leave bradfordbank.com.
Bradford National Bank is NOT responsible for the content and/or the website you are about to access.

To exit click outside of box.

You are about to leave bradfordbank.com.
Bradford National Bank is NOT responsible for the content and/or the website you are about to access.

To exit click outside of box.

You are about to leave bradfordbank.com.
Bradford National Bank is NOT responsible for the content and/or the website you are about to access.

To exit click outside of box.

You are about to leave bradfordbank.com and visit our partner site, College Ave. Bradford National Bank is NOT responsible for the content and/or the website you are about to access.

 

Contact Frank Joy

 

Contact Michael Ennen

Contact Rich Knebel

Contact Chris A. Barth

Contact Dusty Bauer

Contact Jace Keaster

Contact Jeff Hasenmyer

Contact Joanie Willis

Contact John Keeven

Contact Karen Simmons

Contact Kelsey Kendall

Contact Michael Ennen

Contact Michelle Brown

Contact Pennie Slatton

Contact Randy Alderman

Contact Renne Fuller

Contact Rich Knebel

Contact Robert Tompkins

Contact Ryan Champ

Contact Steven Bartlett

Contact Terry Barth

Contact Marlene FIle

Contact Adam Boudouris