How to Reconcile Your Be Smart Checking Account
It's important to reconcile your checking account on a regular basis. “What does that mean?” you ask.
Reconciling is a process of cross-checking your records against the credit union’s records; some people
call the process balancing. There are two purposes for reconciling or balancing: (1) identifying
problems and (2) determining just how much money you have in your account.
Keep track.
When you opened your account, you were given a checking account register. Use it to keep track of
the money you deposit into your account and the money that you spend.
In the column marked “Date,” write the date of the transaction. It is best to write everything down in
the order they occur.
In the column marked “Memo,” describe the expense/deposit; for instance:
o
o
o
o
If you make a purchase, write the name of the store or restaurant.
If you make a cash withdrawal, write ATM or Texas Partners.
If you deposited your birthday money, write something like Check from Aunt Sally.
If you deposited your paycheck, write Paycheck.
In the column marked “Withdrawals (-)” write the dollar amount of the purchase or withdrawal.
In the column marked “Deposits (+)” write the dollar amount of the deposit.
Every time you make a transaction, change the balance accordingly in the column marked “Balance.”
Add money to your balance when you make a deposit and subtract when you make a purchase or
withdrawal.
Let’s get started
If you want to stay on top of your checking account, you'll need to set aside time each day or week to
reconcile your accounts. Things you'll need:

A way to access eBranch: smart phone, iPad, or computer

Calculator

Checking account register

Receipts not entered into your register
1. In your register, enter the amounts shown on your receipts.
2. Next, compare the entries you’ve made in your register to the information shown on eBranch
3. In the column marked “,” place a checkmark for each item that also appears on eBranch. Those
items have cleared. They are complete and accounted for.
4. If you have a receipt for a purchase or deposit but it is not showing on eBranch, leave it unchecked.
5. In your register, record any “withdrawals” or “deposits” (including interest earned [IT.]) that appear
on eBranch but are not in your register. Factor the amounts into your balance and check it off.
o
This is one of those problems we said we might identify. Ask yourself: Did I make this
purchase or withdraw this amount? If not, bring it to the credit union’s attention.
6. If all the “withdrawals” and “deposits” have cleared (they all have checkmarks), the “balance” in
your register should match exactly the balance on eBranch. You are done. If the balances do not
match, find the error by re-doing the math in your register.
7. If there are “withdrawals” or “deposits” that have not cleared (they all do not have checkmarks),
the “balance” in your register will not match the balance in eBranch. You still have work to do.
8. Using Table 1, list and total all outstanding “withdrawals” (no checkmark in your register).
Table 1
Withdrawals Outstanding (Step 8)
Date / Memo
Amount
1/18 HEB
50 00
1/20 Violet
89 76
1/26 Movies
19 00
Total Withdrawals Outstanding
(Enter on Table 3, Step 2)
180 62
9. Using Table 2, list and total all outstanding “deposits” (no checkmark).
Table 2
Withdrawals Deposits (Step 9)
Date / Memo
Amount
1/25 Allowance
20 00
Total Deposits Outstanding
(Enter on Table 3, Step 4)
20 00
10. Using Table 3:
o
enter your current balance in eBranch.
o
enter your Total Outstanding Debits (from Table 1)
o
subtract your Total Outstanding Debits from your current eBranch balance. This is your
adjusted balance.
o
enter your Total Outstanding Deposits (from Table 2)
o
Add together your adjusted balance and your Total Outstanding Deposits
Table 3
1. Enter Current eBranch
Amount
182 48
Balance
2. Enter Total Debits
Outstanding
3. Subtract (Line 1 minus Line 2)
4. Enter Total Deposits
Outstanding
5. Add (Line 3 plus Line 4)
180 62
1 86
20 00
21 86
This number should match the
ending balance in your register.
In not, there is an error and your
account does not balance.
11. This number should match the ending balance in your checking account register. If it does,
congratulations, you have balanced! This is the actual amount you have in your account. If not, then
your account does not balance and there is an error.
12. To find the error, re-do the math in your register and in Tables 1 and 2. If you are not able to find
the error, stop by the credit union as soon as possible so we can help you. It is very important that
you know the sum of money you have available in your checking account.