General Question

prince's avatar

For what do you use the checkmark column in a checking account register?

Asked by prince (322points) December 18th, 2007

For example, in Quickbooks there’s a checkmark column in between the Payment and Deposit columns… is this for marking entries that have cleared?

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2 Answers

Cardinal's avatar

When your check has cleared the bank. Then you are sure the check has been cashed or depositied by the merchant and the money has been withdrawn from your account. The check you wrote has then ‘been cleared’.

eyeguys's avatar

cardinal is right. Once cleared mark it as such with your checkmark both on your check register and next to the amount on your bank statement on the old fashioned paper version to verify agreement. Quicken will do this automatically but only after you follow the steps under RECONCILE option. Banks do make mistakes sometimes and you will never know it if you dont reconcile your account with bank’s. Also, I found a $9.95 charge once that I did not recognize. It turned out to by my clue that an identity thief had billed my account to pay for his online access to my credit report. I would never have known without that little checkmark.

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