Business & Finance Personal Finance

How to Balance Transaction Registers

By Business & Finance Last updated Thursday, May/23/2024

1). Locate your transaction register behind or in front of your personal checks in your checkbook. Enter the information regarding the deposit or credit amount in your account. Include the other information such as the date and transaction description in the designated fields.
2). Write down your purchases, withdrawals, debits, checks or any other transactions that resulted in deducting money out of or depositing money into your account.
3). Turn on your calculator and enter the amount of the initial deposit, subtract the amount of the purchases or deductions and add the debits and deposits.
4). Bring down the new balance after each deduction and deposit to keep track of the current amount in your account. Keep track of your current balance and avoid overdrafts and overspending from your account. If overdrafts occur, write down the resultant penalty charges in your register to ensure the amount is deducted from your account balance.

VeryPages News News - Breaking News & Top Stories - Latest World, US & Local News,Get the latest news, exclusives, sport, celebrities, showbiz, politics, business and lifestyle from The VeryPages,Stay