How to read an account statement

Each month your bank will send you a checking account statement.  This statement shows your account activity for the past month like fees, ATM withdrawals, deposits and checks that have been processed.

You will usually find that the bank statement balance is different from the balance in your checking account register.  This is because you may have written check or used your ATM or debit card after the closing date of your monthly statement. Tracking and finding this difference is called reconciling your checking account.

First take a look at your monthly bank statement. It will usually include; the bank's name and address; the time period covered by the statement; the

account number; your name and address; a list of all transactions by date; list of all cashed checks in numerical order by check number; and a summary of the account activity for the month

The “Ending Balance” is the amount of money you have in your account on the closing date of your statement according to the bank's records.  It should be the first amount you write at the top of your worksheet.  To reconcile your account you'll need your checking account register and the bank statement.  It's a good idea to reconcile your account soon after receiving your statement in case there are any errors.