Not sure how to fill out a check register? Regardless of whether you are using a paper method, a spreadsheet, or an app the information you need will be the same. This post will guide you to filling out a check register so you can start effectively managing your money.
What is a check register?
Before we get started let’s define what a check register is. A check register is a place where you enter all of your deposit and withdrawal transactions that occur in your checking account.
For more information about what a check register is, check out my blog below
What should you use for a check register?
It is totally up to you if you choose paper or a spreadsheet for your check register. There are also many software programs and apps you can use for filling out a check register as well. Any method that works for you and that you don’t dread using is the one to pick.
If you are not computer savvy and you do not have many transactions to monitor then a paper check register will work just fine. However, if you have a lot of transactions and many are repeating then you may find that a spreadsheet or app works best. Another advantage to filling out a check register in a spreadsheet is that you can create formulas to automatically calculate your balance. Whereas in a paper method, you will need to do the math yourself. Most apps will do this for you, so there is a huge advantage to using an app.
Ultimately, choose what you feel most comfortable with because consistency is the key to your success with money management.
How to fill out a check register.
Regardless of whether it is paper, spreadsheet, or app the information you track and the basic concept will be the same.
There are visual examples of how to fill out a check register later in this article. I also included some resource links for check register templates for your convenience. so if you already know this stuff you can skip to the end.
Below is based on my example. You can order the columns any way you choose
1. The date of the transaction
The first column is the date of the transaction whether this is a deposit, withdrawal, written check, bill pay, Venmo payment, or Apple pay…I think you get the idea. Enter or write in the date.
2. The transaction number (Ref No.)
Here you will enter a reference number for the transaction. If it is a check, put the check number. If it is a cash withdrawal put something like ATM, the Deposit can be DEP. You can assign whatever codes you want as long as it makes sense to you and they are consistent.
3. The transaction name/description
If it is a deposit, you can note who the deposit is from. If it was a withdrawal or payment then note who the payment is to. For cash withdrawals, I note “cash”.
4. Budget category
Although this is not necessary, I recommend it when filling out your check register. Add a column to assign a code for a budget category. This will help you evaluate if you are on track with your budgeting goals. For example, G for groceries, D for dining out, E for entertainment, etc. Makeup whatever codes work for you. You can make them general or specific, but remember to keep them consistent.
5. The amount of the transaction
You will have two columns. One for deposits (money in) and one for withdrawals (money out). Enter your amounts into the appropriate columns.
6. Available balance on the check register
This is the balance column. It is where you find your available balance. The basic formula is:
Previous available balance + deposit – expense = Current available balance
If you are using the paper method, you need to calculate this manually with each entry. If you are using a spreadsheet, you can have it automatically calculated for you. I’ve included links to check register templates below as well as a downloadable checkbook register worksheet that you can print for your convenience.
7. Reconcile
Finally, there is a column to indicate whether the transaction has been reconciled with your bank statement. Each month when you reconcile or balance your account, mark this column. Items not marked are still outstanding and not reflected in your bank balance. This is important because if you only look at your bank balance you may falsely believe you have more available money to spend. So…be sure to view your check register for your available funds.
Examples of a check register
Spreadsheet Checkbook register
Maintaining your checkbook register in a spreadsheet such as excel or Google sheets is pretty convenient and easy to do. You can also download these programs on your phone and update them on the spot if that is convenient for you.
Other advantages include automatic calculations, easy sorting and filtering to analyze your data and you can run some simple reports to help you with your budgeting.
Below is a sample of a basic check register in Google sheets and how you can get started.
Opening balance
Start by entering your opening balance. I suggest using the balance of your most recent bank statement.
Let’s say the opening balance is $5000. The spreadsheet looks like this. I left the date blank for this particular entry.
Enter withdrawals
Next, enter any withdrawals that are still pending. These are payments that have not yet cleared in your bank account.
For this example, I made three entries. Because this is in a spreadsheet, the calculation in the balance column updated automatically as I made the entries.
Notice that the available balance is now $4785.00. (not $5000 as the bank statement showed)
Transaction entries
Moving forward, start entering all deposits and withdrawals (payments) into your check register every time you make a transaction. Your balance will automatically update so you always know your available balance.
Below is a formula to use for excel and google sheets if your columns are set up as the example. Note that the balance will not calculate if no date is entered. This helps make your spreadsheet clean.
=IF(ISBLANK(A3),””,SUM(G2-E3+F3))
When adding deposits, your check register will look something like this.
Note that I added a paycheck of $1000. The entry is made in the deposit column and again, the balance automatically updates. Now, it shows the balance is $5785.00
BE CAREFUL WITH DEPOSITS: If a deposit has not cleared at the bank yet, the funds are not available. Generally, it does not take long for them to clear but take notice. So, in the example above, I would only count on the $4785 balance until that $1000 clears at the bank.
When you get your next bank statement, compare the transactions and mark the ones that match in the reconciled column. Balancing your bank account is another topic that I cover separately.
Here are some downloadable templates. Check them out and see what works for you or create your own.
- Excel Spreadsheets: This simple Excel spreadsheet is available. You can also download this one to track your spending categories for you.
- Google Sheets: Download the classic checkbook version or this basic version.
Checkbook register manual worksheet
If you prefer manually keeping track of your deposits and withdrawals you can use a worksheet or you can use the checkbook register provided by your bank. The mechanics are the same. However, you will need to do the math yourself and if you are using budget categories it might be a little more cumbersome depending on how many transactions you have. Again, up to you as there is no right or wrong choice when it comes to which method you choose to track your spending.
Here is a link to a simple checkbook register worksheet for your convenience.
Summary
Voila! Now you know how to fill out a check register.
Whatever method you choose, be consistent. Tracking all of your transactions not only helps you reconcile your bank statements but also brings awareness to your financial activity. Ultimately, keeping everything in balance.
If you have any questions or need some advice please comment below or feel free to contact me.
Thanks for reading!
Stay balanced,
Jill