Friday, May 11, 2012
Importance of balancing a check book
This week we learned how to and how important it is to balance a checkbook. You balance it by reviewing what you recorded you spent and what the bank recorded you spent. The items that are the same you check off. If the bank has not recorded all the transactions than you mail them a form stating what you did and what they need to fix. You need to balance your check book because if you do not you may over draw you account and obtain a fee. It doesn't matter to the bank how much you over draw it is always a fee. To avoid this every time you get your bank reconciliation you should balance your check book.
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