Personal Finance Chapter 2: Checking Accounts/Student Activities
Name
Date
Bank Statement Reconciliation
Follow the eight-step method presented earlier.
Step 1 Put a check mark beside every transaction in the check register that matches
to the entries on the statement.
Step 2
List in the check register and subtract all fees charged to your account.
Step 3
List and total all checks written that have not cleared your account.
Step 4
List and total all deposits not shown on the statement.
Step 5
List the ending balance shown on the statement.
Step 6
Add deposits (Step 4) to the ending balance.
Step 7
Subtract outstanding checks (Step 3) from the balance (Step 6).
Step 8
Check register total should match the reconciled amount (Step 7).
the check register and reconciled amount do not match, go through the eight-step pro-
cess again (be very careful that the numbers are correct).