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How To Balance Your Checkbook

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  • 1:33
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  • h.264
  • 900kbps

How To Balance Your Checkbook

Mitchell Freedman, CPA/PFS (CEO, MFAC Financial Advisors) gives expert video advice on: How do I balance my checkbook?

How do I balance my checkbook?

A lot of people are intimidated when it comes to balancing a checkbook and reconciling a bank account and it's because they really don't know how to do it. But yet, there's a very, very simple tool that banks provide to their customers. It's usually on the back of the statement that you get from the bank. It's a little bank reconciliation form. If you follow the instructions, it will clearly help you to reconcile the difference between your checking account balance and your checkbook balance. Another tool that people can use today is, there are software tools available that will enable you to both write a check on your computer and also generate concurrently, as a byproduct of writing the check, a checking account record in the software program. And discipline is also required because deposits have to be entered properly in order to make sure that they, that they properly reflect the balances in there, but this is a tool that people can use.

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