Help! My checkbook won't balance!?

I am usually really good about balancing my checkbook, but it has been over a month since I did anything with it. I just spent the last 2 hours going through everything, and there is a large difference between what my bank says I have and what my checkbook says! (the bank says I have more)

I have re-checked my

I am usually really good about balancing my checkbook, but it has been over a month since I did anything with it. I just spent the last 2 hours going through everything, and there is a large difference between what my bank says I have and what my checkbook says! (the bank says I have more)

I have re-checked my addition, triple-checked what cleared the account and what didn't, and I am out of ideas. Any suggestions as to where the problem might be?

Best Answer:

?: Go back to a point in time to where you were in agreement with the bank as far as your balance and work forward. If you do not start from a point of agreement then it is much more difficult to find an error. Things to check:

1. All your deposits listed in your check book match the dates and amounts in your statement. Many times, I have found the checks are correct but there is an unaccounted for deposit. Many times this was a clerk's error when I deposited money in the checking account AND money in the savings… they both got posted to the checking account. Work on a plain 8 1/2 x 11 sheet of paper so all your figures are in plain view rather than flipping pages in your checkbook.

2. Make sure there are no checks from previous statements that have not yet cleared. If someone is sitting on one of your checks, it is diffuclut to figure out what is going on. I try to highlight non-negotiated checks and post that amount on the next statement just for observation till cleared. ( I print a statement on my checks that they are void after 90 days to keep people from sitting on them)

3. Make sure you math is correct. Try a double check and add up all the check amounts to find total debits and subtract it from total deposits initial balance.

4. Look at the statement closely.
a. There is an area that lists debits by check. ( – )
b. There is an area that lists debits by electronic funds withdrawal. ( – )
c. There is an area that lists credits by electronic funds deposits. ( )
d. There is an area that lists all paper deposits. ( )
e. There is an area that lists all service charges. ( – )

You could have easily missed an electronic deposit not made by you in person or one of your deposits was transposed by the person entering them in the system giving you more of a deposit than was really deposited.

5. Make sure the amount you wrote the check for was actually accounted for by the bank. I have made out checks that when applied to my account, the bank transposed the numbers. A check for $945.00 was cleared and clearly made out for that amount but what was paid to the account that cashed the check was $495.00 posted on the statement. That one was for state taxes and it took the state of Michigan 1 year to catch that. Bottom line here… don't assume the mistake is yours.

If all these steps do not give you an answer you can agree on, then make an appointment at the bank and they will help you go over your account with you in their office…. but I truely believe if you follow these instructions, you will find the error on your own.

hope that helps,
Bob

Other answer:

?:
Check your payments and income.

That is…1) if you have your paycheck automatically deposited ("direct deposit"), you may have forgotten to include a pay check. 2) If you set anything up to pay any of your bills automatically, that company (gas, water, electric, cell phone, etc.) may not have taken the payment out yet. 3) Check other direct deposits (disability, a monthly military payment, child support) if you have any of those you may have forgotten about.

If you've forgotten something like that, or that automatic payment hasn't gone through yet, all is good.

If you don't have any automatic payments set up, or you did factor in any direct deposits, and it's still off, you can simply call or go to your bank and request a full statement dating back to the time you last updated your checkbook.

anonimitie:
If the bank says you have more, you have an expenditure in your checkbook that either did not happen or a check that's not been cashed yet. Or they have a deposit that you've not accounted for.

Consider buying and using Quicken.

DEBS:
Starting balance?
Jadzia Dax:
Check all bank transactions you missed writing down something

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