Chapter 8 Financial Institutions and Services 193
3. amount of the check in numbers
4. amount of the check in words
5. reason for writing the check, after the word Memo, if you want a record
6. your signature, which should look like that on your bank signature
card
For your own protection, write checks in dark ink. If you make a mis-
take, destroy the check and write a new check. Do not make corrections
on the check.
When you write a check, record the check number, date, payee, and
amount in your checkbook register. Subtract the check amount from your
balance. Record a destroyed check by writing its number and the term
void. When you make a deposit, also record the date and amount of the
deposit and add it to your balance. If you follow these guidelines, you will
always know how much money is in your account.
Balancing Your Checkbook
Once you open a checking account, you will generally receive a bank
statement each month online or in the mail. A bank statement is a record
of checks, ATM transactions, deposits, and charges on your account, 8-11.
STATEMENT
OF
ACCOUNT
DAY DAILY BALANCE
REF
CHECKS AND
OTHER DEBITS
AMT REF
CHECKS AND
OTHER DEBITS
THIS STATEMENT DATE AND BALANCE
LAST STATEMENT DATE AND BALANCE
DEBITS AMOUNT NUMBER SERVICE CHARGE
CREDITS AMOUNT NUMBER
AMT
ACCOUNT NUMBER
PAGE 1
NO. OF CHECKS
10
DEPOSITS AND
OTHER CREDITS
National Bank
Anytown, U.S.A.
Sarah Student
2647 Evergreen Drive
Anytown, U.S.A.
123-45-67-8
3/31/XX $48.73
2/28/XX $50.02
3/2 488 15.32 34.70
3/4 489 25.00 9.70
3/9 490 5.25 4.45
3/11 130.00 134.45
3/15 ATM, 80.00 54.45
National Bank
3/16 492 23.07 31.38
3/21 493 18.35 13.03
3/23 120.00 133.03
3/25 494 34.60 98.43
3/26 495 12.20 86.23
3/28 496 7.50 78.73
3/30 497 25.00 53.73
3/30 5.00 SERVICE CHARGE 48.73
$246.29 10 5.00
$250.00 2
8-11
A bank statement is a
record of all deposits,
checks, charges, and other
transactions involving your
account during the statement
period.