{"id":28703,"date":"2022-12-30T23:30:00","date_gmt":"2022-12-30T23:30:00","guid":{"rendered":"https:\/\/businessyield.com\/?p=28703"},"modified":"2023-02-07T11:09:42","modified_gmt":"2023-02-07T11:09:42","slug":"check-register","status":"publish","type":"post","link":"https:\/\/businessyield.com\/finance-accounting\/check-register\/","title":{"rendered":"CHECK REGISTER: Top 10 Check Register Apps For Your Small Business","gt_translate_keys":[{"key":"rendered","format":"text"}]},"content":{"rendered":"\n
As a small business owner, you understand the importance of keeping track of your company’s finances. However, your company bank statement may not always be up to date with the most recent information. A check register can provide you with an up-to-date snapshot of your transactions. So, what exactly is a check register? Read on to discover more about a check register and the best check register app for your small business.<\/p>\n\n\n\n
A check register, also known as a cash disbursements log, is where you record all of your company’s check and cash transactions over the course of an accounting period. A check register is used by businesses to calculate the running amount of their checking account.<\/p>\n\n\n\n
Depending on the needs and preferences of your company, you may want to keep a separate business check register for each checking account (e.g., payroll account<\/a> and operating account check registers).<\/p>\n\n\n\n Columns in a cash disbursements log let you organize and categorize transaction information.<\/p>\n\n\n\n When you write a check, you must enter it into the check register. Almost every check register is the same and contains titles that are identical. Check the common titles found on a check register.<\/p>\n\n\n\n This is the number printed on the right side of the check. It is also on the bottom of several checks. Checks are typically arranged in chronological order. This is why, even if you make a mistake or an error, there is no harm. You can simply write the check number and ensure that no checks are missing.<\/p>\n\n\n\n Today is the day when you write the check. You must ensure that you write the exact date, as the individual for whom you are writing may not get the cash in their bank deposit if you make a mistake.<\/p>\n\n\n\n This is the description that determines who receives the check. You can call it whatever you like. In general, start the transaction description with the person’s name. For example, if you are working with a store for your company, include their name in the description.<\/p>\n\n\n\n This is the amount of money written on the check. In the section, you must include the precise payment. Whether you paid with a debit card, a credit card, or through internet banking, you must verify that the precise amount of the payment is entered in this box.<\/p>\n\n\n\n This is the amount of money you drew from the bank for whatever reason. You must guarantee that you type the entire and accurate amount.<\/p>\n\n\n\n This is a list of any fees that may have been charged during the transaction. For example, if you withdraw money from an ATM, you will be charged additional fees called service costs. This is the amount that has nothing to do with the bank or the transaction. You must ensure that the fee amount is written in this check register field.<\/p>\n\n\n\n This is the money you’ve put into your checking account.<\/p>\n\n\n\n If you have two accounts and need to transfer money from one to the other for any reason, you must enter the amount in the check register.<\/p>\n\n\n\n This is one of the most crucial areas of the check register. This is the balance part, which is dependent on your transaction. Depending on the transaction, you must either add or subtract the amount from the previous balance to match it with your current balance. Assume you bought something for $300 from a merchant and paid them with a check. You had a $500 balance in your bank account. You must verify that you appropriately subtract (if you take money out) or add (if you add money) (if you put money into your account).<\/p>\n\n\n\n A check register allows you to keep track of all transactions in your account. Even if you check your account balance online, your available balance may contain inaccurate information.<\/p>\n\n\n\n Banks make mistakes from time to time, and you may sometimes forget about transactions.<\/p>\n\n\n\n Your check register will assist you in the following ways:<\/p>\n\n\n\n If you’ve forgotten about overdue checks or automatic withdrawals, online account information can be deceiving. A check register allows you to keep track of how much money you have available.<\/p>\n\n\n\n A check register is an essential component of your accounting process. Your check register indicates the types of purchases made by your business and can assist you in making necessary budget modifications.<\/p>\n\n\n\n Check registers, as opposed to online bank statements, provide a real-time record of your bank account balance and how much money you have available to spend.<\/p>\n\n\n\n There are numerous benefits to employing a check register in your small business. It can help you with:<\/p>\n\n\n\n If you didn’t get a check register with your checkbooks and want one, you have various options, some of which are free:<\/p>\n\n\n\n Paper checkbook registers have been around for a long time, and some people still prefer to record this information by hand. A basic register, which is available online, can also be printed.<\/p>\n\n\n\n Making your own register on paper or in a spreadsheet is a simple process that may be tailored to your specific needs in terms of size, structure, and column headings. Create a document with the following columns across the top to build a check register:<\/p>\n\n\n\n As a business owner, you must understand how to keep a check register. Before entering business transactions in your general ledger, record them in your check register.<\/p>\n\n\n\n To ensure an accurate balance, update your check register every time you spend cash or write a check.<\/p>\n\n\n\n When filling out your check register, you must know all the data about the transaction, such as the transaction amount, the date of the transaction, and the purpose of the transaction.<\/p>\n\n\n\n A credit (deposit) adds to your cash disbursements journal, whereas a debit (payment) subtracts from it.<\/p>\n\n\n\n Here’s an example of how one of your business check registers might look:<\/p>\n\n\n\nWhat Does a Check Register Include?<\/h2>\n\n\n\n
#1. Check Number<\/h3>\n\n\n\n
#2. Date<\/h3>\n\n\n\n
#3. Transactional Description<\/h3>\n\n\n\n
#4. Amount<\/h3>\n\n\n\n
#5. Withdrawal Amount<\/h3>\n\n\n\n
#6. Fee Amount<\/h3>\n\n\n\n
#7. Deposit Amount<\/h3>\n\n\n\n
#8. Transfer<\/h3>\n\n\n\n
#9. Balance<\/h3>\n\n\n\n
Why Do You Need a Check Register?<\/h2>\n\n\n\n
The Advantages of Using a Check Register<\/h2>\n\n\n\n
Where Can I Get a Free Check Register?<\/h2>\n\n\n\n
Make or Print Your Own Check Register<\/h3>\n\n\n\n
Example of a Check Register<\/h2>\n\n\n\n