Using Your Checking Account
Paying Bills Online
- Paying bills online is safer than writing a check and sending it through the mail.
- You can register on business website to pay your bills.
- Registering will require your routing number and checking account number.
- You can let the business take automatic payments out of your paycheck.
- The second option is paying bills at your own bank.
- You have to first register at the bank's website.
- Receive your own personal identification number (PIN) or password for your checking account.
- Every time you deposit money into your account, you should fill out a deposit slip
- To prepare a deposit slip, there are a few directions
- Insert transaction date
- In the "Cash" section, fill in the amount of money and coins in which you are depositing.
- Make sure to know your account number and the amount of the check written.
- Total the currency, coin, and check amounts. Write it on the "Subtotal" line.
- When you want to get some cash when you make your deposit, fill in the amount you wish to receive on the "Less Cash Received" line.
- If you get cash, subtract it from the subtotal. Write that amount on the "Net Deposit" line.
- If you receive cash, sign your name on the designated line.
- Keep the copy of the receipt that the teller gives you as proof of the deposit.
Using a Checkbook Register
- Write the current amount in your account at the top of the "Balance" column.
- Record the transaction in your checkbook register as soon as you write a check to pay a bill or make a deposit.
- Write the check number in the first column.
- The transaction isn't a check. Make up a code to represent what type of transaction it is.
- Write the month, day, and year in the "Date" Column.
- If the transaction reduces your balance, write the amount in the "Payment/Debit" column. If it adds to your balance, write the amount in the "Deposit/Credit" column.
- Some banks charge for each written check.
- Add the check amount to the check fee and write the result in the "Balance" column.
- For a deposit, write the amount in the "Balance" column. If it is a debit transaction, subtract it from the previous balance. Write the new balance on the next line, still in the "Balance" column.
- The column headed by a check mark is used for checking each transaction when it appears on your monthly bank statement.