Lean six sigma project charter template excel lean six sigma project tracking template example, At the end of every month your bank will either mail you a copy of your statement or make a copy of it available online. The statement will include all deposits made, as well as any ATM withdrawals or debit card purchases. To ensure the accuracy of both your bank statement as well as your checkbook, you’ll need to get this statement. A bank reconciliation template is the best way to do so. It will allow you to compare both sets of 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. You can track every transaction and keep a better eye on your spending habits. This can help you set up and maintain your 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.
Use a template form to reconcile accounts monthly. It will allow you detect any accounting errors at both yours or the banks earlier. This could also save you overdraft charges and embarrassment of having your debit card declined. This form allows for you to list every transaction that you have recorded in the checkbook, along with the ones that are held by the bank. Reconciliation happens when you have matched all transactions. The bank should show the correct balance by subtracting these.
Many sites offer templates that you can download to make bank reconciliations much more simple. Since this is a relatively simple process, you need to make sure that the template you choose does not overcomplicate the process. Importantly, you should reconcile your account each month to avoid any potential problems.