Do you still balance your checkbook?

[charlz]

Got a little behind logging purchases into my checkbook register... started to wonder if it is even worth it anymore? Mostly just double checking that a computer can do math? The only errors I ever find are 1)mine, either writing a number down wrong or adding when I should subtract etc. or 2) a restaurant or other place does not include the tip when processing the receipt. Anymore I have even stopped getting receipts as it is easier to balance the checkbook when i log them in the same order they clear my account. I only use about 5 or 6 checks a year now... mostly just to pay things like property tax or at the DMV where they charge more to use a card.

Obviously a periodic review of your statements/accounts is a good thing just in case there is fraud etc. but that doesn't require 'full blown' checkbook balancing.


How many have given up logging checks, receipts etc. and just go by the balance the bank says you have (mentally accounting for outstanding checks etc.)?

 

[sixdogs]

I don't write checks for a week before the end of the statement and it balances itself. The numbers almost always agree and if they don't I can quickly see why.

 

[jcbGM]

Check? What's this "check" you speak of? There's been so many changes in banking. First off, no we don't balance our checkbook, but we do have a "system". I'm paid monthly which helps. All bills are paid electronically the day the deposit goes in. Other funds are electronically divided among other accounts (savings, vacation, etc). A nominal balance stays in checking for groceries and incidentals. We grocery shop once per week and wife's car gets fuel once per week. Not much to track with the occasional shopping trip for clothes or dinner out. I'm the spreadsheet geek and login to check checking account activity daily. Checking account is double protected for overtldraft with auto withdrawal from savings and a bank issued credit card. Neither are ever needed.

 

[ultrarunner]

Always and have multiple accounts to keep track of... personal, small business, several property accounts and then I do Moms.

More than once having a cancel check has saved the day... also I can account for every penny spent business property wise going back to 1982.

 

[TractorGuy]

I keep an excel spreadsheet on my checking account and balance it at least twice a week. I also check all my accounts online every other day to make sure my numbers match the credit union and that no one has skimmed any of my cards. I have had my debit card compromised once and my credit card another time. Both events they got less than $300 before I caught it and the credit union reimbursed me.

 

[von-mil]

I might go 2 or 3 months in between my checkbok 'balancing' simply because there just aren't nearly as many transactions as there used to be.

Different story for credit cards. I keep track of every credit card purchase and always compare with the monthly statements. Sometimes even mid-month compares using the card's website.

 

[SARG]

I keep an excel spreadsheet on my checking account and balance it at least twice a week. I also check all my accounts online every other day to make sure my numbers match the credit union and that no one has skimmed any of my cards. I have had my debit card compromised once and my credit card another time. Both events they got less than $300 before I caught it and the credit union reimbursed me.

I'm with JD. I monitor the accounts on line almost daily. My wife however goes bug**** trying to keep the checking account balanced to her satisfaction.

 

[EddieWalker]

No, I haven't balanced my checkbook in over a decade. I write down each check, how much and who to, but rely on my online statement to know how much cash I have in my account.

 

[Bird]

I just checked and found that I wrote 4 checks in 2014, and one check each year in 2015 and 2016. We do nearly everything either online or with credit cards. But being retired with plenty of time, I enter EVERYTHING on Quicken (even cash expenditures). And I do check the credit union website, as well as the credit card websites, a few times each month, and I do reconcile the bank statement EVERY month, just as I do match up all the receipts with the credit card bills EVERY month.

 

[nybirdman]

Still old school for me.I use a Money program on my computer and keep track of two checking accounts ,loans and credit cards.

 

[turnkey4099]

"balance" is relative. If I am within a few dollars I figure it is close enough and start over with whatever the bank says.

Gave up on mine a bit ago to take a break and clear my head. Came out $3,000 off. Found one of my errors in firsst check $1,000 off. Tried to continue but it jsut got worse.

I only write 5-6 checks a month so It should not take a math genius. Dunno what my problem is today.

 

[Looking4new]

I don't write checks.
I do check the bank accounts 2-3 times a week, I check the CC accounts weekly.

 

[rekees4300]

Checks are obsolete, replaced by credit/debit cards. Use a free open source program called GNUCASH and transactions downloaded from banks to do balancing (aka reconciling).

Free Accounting Software | GnuCash

 

[oosik]

I still write about a dozen checks a year. Yes, I balance the check book - too many decades of ingrained procedure. AND all it really does, is show that every so often I make mistakes - ha,ha. Otherwise, all banking/bill paying is done on-line.

 

[ultrarunner]

Checks are obsolete, replaced by credit/debit cards. Use a free open source program called GNUCASH and transactions downloaded from banks to do balancing (aka reconciling).

Free Accounting Software | GnuCash

I doubt I will ever stop writing checks...

Four years ago the county said I failed to pay the property tax and was coming after me... I responded with front and back copy of my check and that took care of it.

Two years ago the State of California was dinging me for delinquent truck renewal which is steep... thing is I paid by check and had my new tab/registration in hand... again, my cancelled check saved me... about 300 transactions were erased by a computer glitch.

I ONLY use checks when refunding tenant deposits on rentals... just too many potential problems without a paper trail.

The one and only time I was audited... I had complete records including cancelled checks going back to day one... it was a short audit and the person commented how well organized and complete my records are... the first 10 years was nothing more than a check register with all income and expenses recorded... and checks as proof.

 

[charlz]

I doubt I will ever stop writing checks...

Four years ago the county said I failed to pay the property tax and was coming after me... I responded with front and back copy of my check and that took care of it.

Yeah that is why I like to pay property taxes and anything to do with the government with a check.

 

[ultrarunner]

Pretty much... especially when guilty until proven innocent.

Doing Taxes and Year End stuff today as the storm of the decade approaches... good day to be inside juggling 7 checkbooks and renewing business licenses and Gross Receipts Taxes.

 

[murph1]

Pretty much... especially when guilty until proven innocent.

Doing Taxes and Year End stuff today as the storm of the decade approaches... good day to be inside juggling 7 checkbooks and renewing business licenses and Gross Receipts Taxes.

Do you get cancelled checks back? If so what bank.

 

[ultrarunner]

When the they started charging for check return I went to images that either come with the paper statement or available online for up to 24 months with business checking.

The account with BofA has been open since 1948

 

[murph1]

When the they started charging for check return I went to images that either come with the paper statement or available online for up to 24 months with business checking.

The account with BofA has been open since 1948

I get mine online I was just wondering if you got your checks back. no harm meant.