Tip:
Highlight text to annotate it
X
Hi! This is Summer on behalf of expertvillage.com in this clip we’re going to discuss another
common error when reconciling your checkbook if it doesn’t come up to what it should,
another thing you want to check for is discrepancy in amounts. Basically what this means is you
have a deposit and or debit recorded in your register that shows up as a different amount
on your bank statement. Now say you wrote a check to somebody for $100 that’s what
you have recorded in your checkbook register, the bank statement shows that check clearing
for say $200, the first thing you want to do is go to your checkbook and find that carbon
copy that we discussed earlier and see what that check was actually written out for or
if your bank actually sends cleared checks in your statement check that cleared check
and make sure that it was for $100 and not for $200. Now if what you had in your register
was correct and what the bank statement showed was incorrect, you want to go into your bank
immediately, bring copies of everything that you have and they should be able to dispute
that for you and credit your account in this case that extra $100. It’s something that
we see, not often but often enough any financial institution has procedures that they can go
through to make sure that they correct that error for you. Now in the case that the bank
was correct when you back to your carbon copy and see that you had written the incorrect
amount in your register you want to make sure that you adjust that so that your numbers
come out correctly when you actually reconcile.