Managing your bank accounts, whether savings or checking, by reconciling them to your bank's records is a responsibility — and one of the best money management habits you can keep. Mapping Your Future can help you manage your accounts properly.
Even if you have online banking access, you should keep your own records of account activity. You don’t have to use a traditional bank register (also known as a checkbook or bank book), but you should keep track of all additions to the accounts (direct deposit of wages, check deposit, interest earned, etc.) and withdrawals from the accounts (purchases on a debit card (note cash back, if applicable), automatic bill payment, ATM withdrawals, transfers, etc.).
You should balance, or reconcile, your records for all of your bank accounts at least once each month when your bank statement is available. This is one of the best money management habits.
Benefits of balancing your records:
To balance your accounts, follow these simple steps using the bank balancing tool below or other tools or software:
Balances don't match? Try these tricks: