Calculate Reconcile Your Checkbook

Starting Balance ($):


Deposits/Income ($):


Payments/Withdrawals ($):


Calculate

 

 

 

About Calculate Reconcile Your Checkbook (Formula)

Calculating and reconciling your checkbook involves a few straightforward steps. Here’s a basic formula and process you can follow:

1. Starting Balance: Begin with your starting balance from the previous checkbook reconciliation or statement.
2. Add Deposits: Add any deposits that haven’t been included in the previous balance. This includes any checks you’ve deposited but haven’t yet cleared.
3. Subtract Withdrawals: Subtract any checks, withdrawals, or payments that haven’t cleared your account yet. These are transactions that have been deducted from your checkbook but haven’t been processed by your bank.
4. Adjust for Bank Fees or Credits: If there are any bank fees charged to your account or credits (like interest earned), make sure to adjust your balance accordingly.
5. Ending Balance: The resulting number after these adjustments should match your bank statement’s ending balance if everything is accounted for correctly.
6. Reconcile: Compare your calculated ending balance with the ending balance on your bank statement. They should ideally match. If not, go through your transactions again to identify any discrepancies or missed entries.

This process ensures that your checkbook balance accurately reflects your bank account balance, taking into account pending transactions and any fees or interest.