How to Balance a Checkbook
These days many of us write few, if any, checks. So, the term "balancing a checkbook" has taken on a new meaning. Simply put, balancing your checkbook involves making sure your records for your checking account match the bank's records.For instance, the bank's records for your checking account may show a $50 debit card purchase at a grocery store, but that transaction doesn't appear in your own records. In this case, the $50 purchase might have been fraudulent, so balancing your checkbook enables you to detect this transaction and report it to your bank.Here, we explain why you should balance your checkbook and walk you through the steps for doing it.Why You Should Balance Your CheckbookBalancing your checkbook, also called reconciling your account, may feel like a chore. But it's a chore...
