Page 33 - Book4E

The register also includes a column for recording deposits. By record- ing each deposit as it is made and then subtracting each check written, ATM withdrawal, and debit card purchase from the balance as they are made, you will always have an accurate account of how much money remains in your account.
If you write a check that you don’t have enough money in your account to cover, it will cost you a significant amount. Bounced check fees can run from $15 to $45 per check. If your financial institution returns the check to the creditor without honoring the check, the creditor will also charge a returned check fee. It is important to keep your check register current so you don’t run the risk of bounced check fees and so you can be sure your bills and living expenses are covered before you use the money for other expenditures.
In addition to recording everything in your check register, you should keep any receipts you get from the bank. These will be important for compiling and reconciling your account at the end of each month and for reconciling your income tax at the end of the year. Receipts you should keep include:
• Deposit receipts
• ATM receipts
Checking Accounts 23