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This Checkbook Balancer makes it easy to make sure that you have an accurate read on the funds you have available in your checking account. It's easy to lose track of just where you stand when you have numerous checks that haven't cleared or deposits that haven't yet shown up. Just take your last month's statement balance, enter your checks and deposits since then, and the calculator will do the rest.
Keeping track of your deposits and withdrawals from your checking account is critical to the successful management of your personal finances. But balancing your checkbook manually can lead to errors. And errors can lead to overdrafts. And overdrafts can lead to non-sufficient fund fees (NSFs) often multiple ones, if several checks or withdrawals hit your account at the same time.
This checkbook balancer makes it quick and easy to get an accurate of the funds available in your checking account. It's very common for people to underestimate how quickly a number of seemingly modest checks or withdrawals can add up to a big total that reduces your checking balance to zero, or negative numbers. What may look like a big, comfy balance in your account can quickly shrink to nothing after a few checks clear. This calculator can keep you from being surprised.
Using the Checkbook Balancer is also a good way to doublecheck your bank's calculations and make sure they're accurate as well. Though banks are very good about keeping precise records, they do sometimes make mistakes – and those can cost you money. It's important to double-check their work so you can identify and flag the infrequent errors they do make so you can get proper credit for your money.
There are several ways to use the checkbook balancer. One option is to start with your checking account balance from your last statement. Then simply enter all the checks you've written since then, plus any deposits, withdrawals and fees, along any outstanding checks, deposits or withdrawals that had not cleared as of your last statement. Then hit "calculate."
If you can access your account online, as most can these days, simply start with the balance currently shown in your account. Then enter all outstanding checks, withdrawals, deposits and fees you've made or incurred since then, and hit "calculate."
You can also use the Checkbook Balancer to go back and review past statements for accuracy. Again, start with the beginning balance, enter any checks, withdrawals, deposits and fees for the period in question and hit "calculate."
The calculator can handle up to 11 checks, withdrawals and fees, plus a total of six deposits for any set of calculations.