Printable employee performance tracking template stcharleschill template employee performance tracking template sample, Your bank will send you a copy or make it online at the end of each month. The statement will include all deposits made, as well as any ATM withdrawals or debit card purchases. Once you have the statement, it is time to reconcile both your bank statements and your checkbook. The best way is to use a bank reconciliation templates that will help you compare both sets.
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. Tracking each transaction will help you to keep a close eye on your spending habits. 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.
The other benefit of using a template for reconciling your account on a monthly schedule is that it allows you to identify any accounting error at an earlier stage. This could result in you saving overdraft fees, embarrassment and having your debit card declined or a check bounce. 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. When you match all transactions, reconciliation is done. The bank doesn’t have any records. These can be subtracted from the bank’s balance to make it match the bank’s.
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. Most importantly you need to make sure you reconcile your account every month so that you can spot any problems that occur in their tracks before they end up costing you a lot of money