Excel credit card tracker template collection credit card tracker excel template doc, You will receive a copy your statement at the end each month from your bank. The statement will include all deposits made, as well as any ATM withdrawals or debit card purchases. Once you have your statement, it’s time to reconcile the bank statement with your checkbook. You can use a bank reconciliation template to help you compare the figures.
The reconciliation forms will also allow you to track any outstanding checks or deposits. This allows you figure them into your checking account balance and you won’t feel like you have more cash than you do. This will allow you to keep an eye on all transactions and make it easier to create and maintain a household budget. People often find that if their bank accounts are not reconciled every month, they end-up overdrafting. This can lead them to paying high fees for overdraft fees, and even bad check costs.
You should also use a template to reconcile your bank account monthly. This will enable you to spot any accounting errors (both yours and those of the banks) much earlier. In turn, it could help save you overdraft fees as well embarrassment such as a check bounce and a debit card declined. This form allows you to list every transaction you have recorded in your checkbook alongside of the ones that the bank has a record of. Reconciliation occurs once you have matched all transactions and are left only with those that you show that the bank does not. 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. This is an easy process so you should make sure the template you select does not complicate it. To avoid problems from escalating, make sure that your account is reconciled every month.