11223 L ECON_PFH_Worksheets.p... 6 Bay Sawas Learning Company LLC, An Rights Reserved. Name Class Opening and Managing a Checking Account (continued) BALANCING YOU R CHECKBOOK Step 1. In the V column of your check register, check off every deposit, check, debit card, and ATM transaction that appears on the bank statement. Step 2. Record the closing balance (from bank statement): Step 3. Calculate the total deposits by adding together all deposits made since the closing date on the bank statement (all deposits with no check marks in the '1 column): Dulc | Amount 'l'utnl Deposits I Step 4. Add together the closing balance (from Step 2) and the total deposits (from Step 3) to get the subtotal: Step 5. Calculate the total debits by adding together all debits (checks, debit card, and ATM withdrawals) made since the closing date on the bank statement (all debits with no check marks in the V column). Include bank service fees: Univ I Amount 'l'uml Debits | Step 6. Add total debits to the subtotal in Step 4: This total shows the amount of money in your account according to the bank. It should match the most recent running total in your check register, after recording any bank service fees. 7 Okay Sawal Lesmlnn Cnmplny LLc, An mam: Rmma. Name Class Opening and Managing 3 Checking Account (continued) WHAT TO DO IF YOUR CHECKBOOK ISN'T BALANCED If you have tried to balance your checkbook and your register shows a different amount than the bank records, use this checklist to try to identify the reason for the discrepancy