"Reconciling" Your Checking Account
Now it's time to compare your check register with the checking account statement from the bank. This is called "reconciling" your statement.
Checking Account Statement | ||||||||||||||||||||||||||||||||||||||||||||||
FoolProof Bank Group Inc. | Page 1 of 1 | |||||||||||||||||||||||||||||||||||||||||||||
I.B. Cule Jr. 123 FoolProof St. Anywhere, Anystate |
Statement Closing Date |
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Number Type | Date (mm/dd/yy) | Description | Payment Debit(-) |
Deposit Credit(+) |
Balance | |
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125.00 |
First, in the (check) column of your register, check off each of the entries that are listed on the statement. This will help you see what entries aren't on the statement for the next step. These entries are called "outstanding" which means that the bank had not processed these transactions as of the date of the statement.
Are you sure you have checked off all the entries listed on the statement? Please proceed.