Printable Check Register Full Size

What are the reasons to keep a physical check ledger?

Traced to the old tradition in which people used the paper check ledger to track their transactions and deposit to the bank account. The style of the physical check ledger was notebook size with a pen as the tool to write down everything. Nowadays, people tend to use the bank application to record all of these. However, the physical ones also have reasons to make you consider having one.

You have control of your money. With the manual style, you can directly write down any transaction you have, meanwhile, using the system is sometimes not too accurate all the time. This kind of case happens especially when there is a pending from the server.

When the bank system is down, you can always check the ledger. It's quite accessible for this case. So, for example, the system went down and you need the cash right away. You are still able to track the transaction and write down the cash you spend.

This allows you to record the payment every time. It's such a perfect tool for note-taker to directly write down the spending while the balance takes out. Physical ledger also makes you check your transaction in one open, in case there is a payment you missed out on.

What are the easiest steps to balancing a checkbook?

Balancing your transaction with the total money in your account is something you should do every time. This will give lots of benefits for you to work on your cash flow. With this, you get clear your spending habit and also know the amount of money you have in the account. There are some steps when it comes to balance:

1. Track your interest earned

Do this on your check register which will appear on your front statement. Add the balance and make sure you track another credit amount.

2. Record the service charge

This might be something you are not aware of. Make sure you write down all of the charges that have already been subtracted from the account. It commonly includes monthly service charges, per-check charges, ATM transaction charges, and non-sufficient fund fees.  

3. Verify your deposit amount

Check your last statement on your check register and verify that every transaction matches the amount you already write down on the checkbook register. You can make a table that consists of the amount only with the details of the date and the outstanding deposit.

4. Match all check entries

The transaction is commonly already listed on your statement. Make sure you match the entries on your register. Use the check mark as the sight that the transaction match.

5. Check the outstanding items

Look at your previous statement and make sure the outstanding transaction does not include in yours today.

6. Verifying other debits

The additional transaction also should be included on your list. You have to verify it and make sure that it's actually withdrawn by yourself.

7. Make a list of all your outstanding checks

Put down all the outstanding checks on your checkbook register. Use the check mark as the sign that you already do a double-check.

8. Balance

It's time to balance your checkbook register on the statement. Have a table with consist of the statement ending balance, deposit, checkbook register that is not shown in the statement, amount of outstanding checks, and the final total.

What are the pros and cons of using a check register?

A check register is the first place your transaction is recorded. When it comes to a check for a company, it depends on the type of business you are in now. The business owner in a retail style commonly make payment inventory, salary expenses, and account payable. Meanwhile, manufacturers have a part in raw material purchases, and production cost. Those used create the pros and cons of using them.

Start with the pros, a check register shows your balance on the checking account. It is recorded in real-time, so you can keep updated about the transaction and balance all the time.

Using the journal to track the cash is commonly happening in company management. They will use the data and figure out the ratio of cash. It includes check numbers which allow you to double-check to make sure there is no mistake on the transaction.

With digital payment and receipts, it is able to make the checkbook redundant. The check register also not having any transaction record that happens outside the book. So, you have to write it down by yourself in case using cash.

Between those pros and cons of check register, overall, it still helps the owner to maintain the balance and transaction using their account. Make sure you are consistent in checking your account and include the outside book transaction.