Checking Account: Basic things you need to know
In the world of business, you should know how to successfully manage your checking account. In line with this, you need to fully understand the two basic components: writing a check and account balancing.
In order to get started in checking your account, prepare your check book. The check pad with the lowest check number should be inserted into the protective check book cover. Then insert the blank check register into the other pocket of the protective checkbook cover. After you write a check, don’t forget to register the date, amount and pay to the order of information into your checkbook register then remove check from checkbook. This is to keep track of your checks and to remind you of the check you issued. It serves a record of your transaction and this will assist you in balancing your account later. If you have a busy schedule, you might want to order duplicate checks from your bank. Basically, there is a carbonless form located under each check. So that every time you write a check, it will also record your transaction.
Now, what you need to know is how to write a check. First is you complete the date line. Then write the name of the person or company’s name that you are paying to in the “pay to the order of” section. Next is to write the amount in numbers. And then you will have to write the amount in words. Once you’re done, sign your check.
Here are some helpful hints when writing a check:
- Use a reliable ink so that what you wrote cannot be changed.
- Write in print or write clearly so other can’t misread
- Make it a habit to sign your check only after all information is completed.
- If you made a mistake when writing a check, don’t forget to write “void” next to the check number then tear up the check before you dispose it.
Now, here’s something you should know about balancing and checking your bank account. For you not to experience any hassle, make sure your account is balanced. It is because you are less likely to have non-sufficient fund occurrences or what they call “bounced” checks. Returned bounced non-sufficient fund items can be very expensive because of penalty charges. Not only that, it is inconvenient and embarrassing.
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