1 gather your checkbook and your bank statement 2

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1. Gather your checkbook and your bank statement 2. From the starting date of your bank statement, check off all matching deposits, checks, and debits. 3. From the transactions that are remaining determine what they are: a. Deposits in Transit: Deposits you’ve made that haven’t appeared on your bank statement yet b. Bank Fees: Fees issued by your bank c. Bank Issued Interest: Interest given to you by your bank on any investments or savings accounts. d. Outstanding Checks: Checks and charges made by you that haven’t appeared on your bank statement yet e. Errors: Errors can be either yours or the bank’s. For example, you wrote a check for $123, but recorded the transaction as $132. Or, the bank charged you with a transaction you never made, a duplicate charge, or a charge for the wrong amount. 4. Once you identify the transactions here’s what you do with each: a. Deposits in Transit: Add deposit amounts to the balance of your bank statement b. Bank Fees: Make entries in checkbook for fees and deduct amounts from checkbook balance c. Bank Issued Interest: Make entries in checkbook for interest and add amounts to checkbook balance d. Outstanding Checks: Subtract check and debit amounts from bank statement balance (now changed by step a)
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e. Errors: Look carefully at the error. You will be required to add or subtract
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1 Gather your checkbook and your bank statement 2 From the...

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