Finish Banking Packet

Today I would like you to do the following:

• Finish all checks, deposit slips, and check registers entries
• Reconcile / balance all debits and credits.
• Check off every deposit
• Check off every check
• Check off every ATM or Debit transaction
• Make notes of any missing checks
• Make notes of any other discrepancies
• Check your final balance with someone else in the classroom -- or two people if one of your balances doesn't match
• When turning in your packet, make sure you include:
• Completed Bank Application
• All Checks
• All Deposit Slips
• All Check Registers
• Both Monthly Statements (with checked off items)
• Complaint Letter (for damaged DVD) -- if you still have it.
• Turn in your packet with your name clearly written on the front.

Reconcile Bank Statement / Balance Checkbook (Month 1)

Today we will be balancing (or "reconciling") our first month's transactions.  Approximately once a month you will receive a "bank statement" which shows all debits (checks, ATM withdrawals, automatic deductions, debit charges, transfers, etc.) and credits (deposits or transfers to checking).  Your bank statement also shows check numbers, dates the transactions were made, daily balances, bank fees, etc.

There is a copy of your bank statement in the back of your packet.  You should have a statement for last month (the one we need today) and one for this month (which we will use in a few days).

Begin going through your check register and comparing the items against the bank statement.  If the items match (check number, amount, etc.) put a check mart next to the item on your bank statement and a check mark in the "check mark column" next to the item of your check register.

Repeat these steps going through deposits/credits.

Next, figure out what has not been taken out of [or put into] your bank account.  Circle them so you can make sure they clear by next months statement.  Do your accounts balance?