Bank transactions

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One thing to pay attention to in your bank statement is the date. Transaction date may be different from the date on which it was recorded in your bank statement so some of the expenses may be shown with some time lag (for example, not all of the today’s transactions may show on your current bank statement).

When you have both open – your bank statement and your journal, start going line by line, taking bank statement as a reference. Find each of the transactions from the statement where it is recorded in your journal and mark it in the journal. Any transaction which shows on your bank statement but not in the journal you should investigate – have you had this expense and forgot to add it to your notes or is it an unauthorized charge.

It is as simple as that!