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The Checkbook Register

The Checkbook Register. What is the checkbook register used for?. A checkbook register gives you a record of all of the deposits you make into your bank account of all of the checks you write

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The Checkbook Register

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  1. The Checkbook Register

  2. What is the checkbook register used for? A checkbook register gives you a record • of all of the deposits you make into your bank account • of all of the checks you write It helps you keep track of the balance in your checking account—the total amount of money you have in your account.

  3. How to use the Checkbook Register • Record your first deposit. Example:

  4. Now record each check that you write, being sure to include • the number of the check • the date of the check • the person or business to whom the check is written • the reason for the check • the amount of the check • the new balance in the account

  5. Here is a demonstration of how to record other transactions in your checkbook register: Follow this link: http://www.moneyinstructor.com/wsp/checkbook.asp

  6. Practice • Suppose you wrote on Oct 19, 2207, you wrote check # 101 to the Runaway Sports Shop for $14.45 to buy some socks. Record this transaction in your register.

  7. Another one • On Oct. 10, you wrote Check #102 to Noyes Music Shop for $9.78 for a new CD. Record the transaction (was your last entry correct?)

  8. Complete the following register. Figure the new balance for each check written and each deposit made. Remember to subtract checks and add deposits.

  9. ATM Many banks provide ATM’s (automated teller machines for their customers’ convenience. To use an ATM, you must have a special card from your bank and a pin number that is assigned privately to you.

  10. Reasons to Use and ATM • To get money from your account even when the bank is closed. • Shorter lines than inside the bank. • ATM’s available at some stores and gas stations for your convenience.

  11. BEWARE!!!! • Most banks charge a fee for using the ATM—sometimes as much as 2% of the withdrawal. • Withdrawals from an ATM must be recorded in your check book register. These withdrawals should be recorded in your register just like checks.

  12. Example from ATM

  13. End Day 2 • Assignment: Checkbook Register Worksheet

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