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Alpha Teach Yourself Bookkeeping in 24 Hours by Carol Costa

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Hour 10

Updating and Balancing the Checkbook

Chapter Summary

In this hour you will learn about…

  • Entering deposits
  • Writing checks
  • Work papers
  • Canceled checks
  • Audits
  • Balancing business bank accounts
  • Balancing your personal bank accounts

You have learned that the General Ledger must be kept in balance and that this is accomplished by posting entries where the debits equal the credits.

 

It is equally important to make sure that the checkbook is in balance. For bookkeepers this is a twofold responsibility. The balance shown in the checkbook should match the balance in the Cash in Checking Account in the General Ledger at the end of the month. The balance in the checkbook must also match the balance reported by the bank on the monthly statement. If your cash account ...

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