It’s Your Money!

It’s Your Money! : It’s Your Money! Balancing Your Checkbook Tina Short Business Application Instructor Four County Career Center

What does a statement look like? : What does a statement look like?

Important Parts of the Statement : Important Parts of the Statement Beginning bank balance Deposits made Checks written and cleared Reconciling form

What will you see? : What will you see?

What does the reconciliation worksheet look like? : What does the reconciliation worksheet look like?

Slide6 : Insert Movie: statement balance

The Statement and Reconciliation Form : The Statement and Reconciliation Form Where does it come from? Does it have a calculation form? Insert movie: bank statement

What you should observe : What you should observe Insert movie: first observation Insert movie: second observation

First Steps : First Steps Check deposits against checkbook register Put a check mark next to the amounts that match, as you find them

First Steps : First Steps The remaining deposits (outstanding deposits) not checked off, should be ADDED to the banks balance. Use the calculation sheet the bank provides on the back of the paper, to write the information.

Slide11 : Insert movie: first step

Second Steps : Second Steps Check the checks against the checkbook register Put a check mark next to the check numbers/amounts that match, as you find them

Second Steps : Second Steps The remaining checks (outstanding checks) not checked off, should be SUBTRACTED from the new bank balance, you previously calculated. Use the calculation sheet the bank provides on the back of the paper, to write the information.

Slide14 : Insert movie: second step

REMEMBER: Look for Extra Fees : REMEMBER: Look for Extra Fees There may be extra fees These fees are to be subtracted

When the reconciled balance matches the bank balance: : When the reconciled balance matches the bank balance: Your checkbook is balanced!!