How to Reconcile Your Monthly Bank Statement With Your Checking Account Balance

by Margaret Morris ; Updated July 27, 2017
Keeping accurate records makes your checking-account reconciliation easier.

Items you will need

  • Bank statement
  • Check register or other record of transactions
  • Calculator

If you record every transaction you make, you'll find it easy to reconcile your monthly bank statement with your checking account balance. Anything that isn't listed on your statement, but that is listed in your records, must be adjusted to the ending balance on the statement. If you're careless about recording purchases you make with your debit card or forget to list deposits in your transaction record or check register, you might need to do a little detective work to discover the correct balance in your checking account.

Step 1

Mark the paid, or cleared, checks listed on your bank statement in your check register or other transaction record. Find each check number showing as cleared on your statement and mark it in a way that tells you it was deducted from your checking account. Usually, a check mark is sufficient.

Step 2

Mark all deposits, withdrawals and ATM transactions showing on your bank statement in the same manner.

Step 3

Use the reconciliation form on the back of your bank statement or just a blank piece of paper to total all the deposits you made after the ending date of your bank statement that are not shown on the statement.

Step 4

Add the total deposits to the ending balance shown on your bank statement. This is your adjusted ending balance.

Step 5

Use the reconciliation form on the back of your bank statement or just a blank piece of paper to total all outstanding checks and ATM withdrawals. Outstanding checks are those that you have written but that do not show on your bank statement as cleared. Outstanding ATM withdrawals are those that you made and recorded but that do not show on your bank statement.

Step 6

Subtract the total outstanding checks and ATM withdrawals from the adjusted ending balance. The total should equal the total in your check register or other transaction record.

Step 7

Check your addition and subtraction using a calculator if your balances do not match. If they are still different, verify your addition and subtraction for each check, deposit and ATM withdrawal you recorded in your check register.

Tips

  • If your checking account does not balance after you've checked your math on every transaction, you might have forgotten to record a check, ATM withdrawal or deposit. If you have access to online banking, use it for a more current record of your transactions.

About the Author

Margaret Morris has a Bachelor of Arts in English with a concentration in creative writing from the University of Pittsburgh. She also holds a celebrant certificate from the Celebrant Foundation and Institute. Morris writes for various websites and private clients.

Photo Credits

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