Free excel project tracking templates resume examples best excel project tracker template excel, Your bank will send you a copy or make it online at the end of each month. This statement will detail every deposit made and all transactions, including ATM withdrawals and debit card purchases. Once you have the statement, it is time to reconcile both your bank statements and your checkbook. A bank reconciliation template will make it easier to compare the two sets.
This reconciliation form will also let you track any outstanding checks and deposits so that you can figure them into the balance in your checkbook and not end up thinking you have more money than you really do. You can track every transaction and keep a better eye on your spending habits. This can help you set up and maintain your budget. Most people find that if they do not take the time to reconcile their bank accounts every month they end up overdrafting their accounts, which can end up costing a lot of money in overdraft fees and bad check charges.
Another important aspect of using a template form to reconcile your account on a monthly basis is that it will allow you to spot any type of accounting error, both yours and the banks at a much earlier point in time and again could end up saving you overdraft fees and the embarrassment of having a check bounce or your debit card declined. You can list all transactions that you have made in your bank account, as well as those that the bank has. Reconciliation happens when you have matched all transactions. By subtracting these from the balance you show, it should match what the bank shows.
A variety of websites offer templates online for bank reconciliations. You should ensure that the template chosen is simple and does not make it more complicated. It is important that you reconcile every month your bank account so you can catch any issues before they escalate into costly problems.