A Better Way to Manage Your Everyday Money - Book - Page 76
transactions are downloaded. I use the first of the month before the statement date. For example,
to download transactions for a statement dated October 26th, I use a filter start date of September
1st. All cleared transactions in the download file that are not needed are deleted as part of the
balancing process. (This works unless you have an old check that the payee has not yet cashed.
When this happens, the filter start date for the download is the date of that old check.)
Before starting to balance, review the statement to see if there are any new charges, fees, or
interest that have not been entered in PerNetFlow.
● Enter all new charges and fees in the Enter Fee/Write A Check dialog box.
● Enter interest earned on the account as an Other deposit.
Balancing a checking account statement is done in the Balance Checking Account window. In
summary, the balancing steps are:
● Enter the statement date and beginning balance in the Statement box.
● If you have a residual check register:
○ Check the items in your residual register that appear on the statement as cleared.
○ In the Check Register box, enter the summarized information for all items that
have not yet cleared in your residual register.
● Click on the Open button, to open the downloaded transaction file. Delete unneeded,
cleared transactions.
● Resolve transactions in the program’s transaction register and on the statement that do not
match. You can exit the Balance Checking Account window, without clicking on the
Balance or OK buttons, to make corrections. When you reopen the window, you may
have to click on the Clear button before again clicking on the Open button.
66
