- If the checking account is a joint one, the beneficiary typically can't claim the money unless both account owners die. If an account holder died with outstanding debts, creditors can seize money from the POD account before it passes to the beneficiary. POD accounts can't be used to 'hide' money from creditors or shield it from estate tax.
- Checkbook software helps your balance your checkbook register and compare to your monthly bank statement or balance your credit card and compare to credit card statement. Reconcile accounts including balance your checking accounts is an important part of your personal finances and the checkbook software has macros that simplify the process.
Checking Account (1/3) Directions You received your bank statement in the mail, and now you need to balance your checkbook. The account register is the record of your checking account. » Use the bank statement to balance your account. » Read the statement and make sure all transactions (deposits, withdrawals, transfers, electronic bill.
Colossal Checking
If you have a Classic Checking account and you're a regular user of Gesa's electronic services, you may want to consider Colossal Checking. Tuneskit video converter 1 0 0219. You can earn dividends and get unlimited domestic ATM fee refunds nationwide.
Receive all the benefits of our Classic Checking, plus:
- Generous dividends to grow your earnings*
- Domestic ATM fee/surcharge refunds up to $4.99 per withdrawal*
- Electronic delivery of your statements.
* To maintain these benefits, you must:
- Provide and maintain a valid email address
- Apply for and use their Visa® Debit Card to make 18 Debit Card Transactions (excluding ATM transactions/inquiries and deposits/credit transactions) per qualifying period
- Ensure at least one direct deposit or external ACH auto debit has been set up
(To view the PDFs, you must have the free utility Adobe Reader. Click here to get it.) - Enroll to receive eStatements
There are no monthly fees and no minimum balance to open this account in person. There is a minimum balance of $25.00 if the account is opened online.
![Checkbook 2 6 3 – Manage Personal Checking Accounts Payable Checkbook 2 6 3 – Manage Personal Checking Accounts Payable](https://i.ebayimg.com/images/g/5jAAAOSwe5dfByzu/s-l640.jpg)
Qualifying Account Balance | APY* (months) |
---|---|
$0 – $10,000.00 | 1.65% |
$10,000.01+ | 0.01% |
Non-Qualifying | 0.01% |
* APY = Annual Percentage Yield. Rates, terms, and fees are subject to change. APY is accurate as of 10/1/2020, the last dividend declaration date.
Dividends on a Colossal Checking Account will be compounded and credited to a member's account each month. Dividends on Colossal Checking accounts are calculated using the daily balance method. Qualifying account balances meet minimum requirements. APY subject to change monthly. APY is accurate as of 10/1/2020, the last dividend declaration date. Rate may change after the account is opened. The qualifying period begins with the first day of the calendar month and ends on the last day of the calendar month at 6:00 P.M. Pacific Time. ATM fees of $4.99 or less will be reimbursed up to a maximum of $4.99 per individual transaction. No monthly fees and no minimum balance required to open or maintain account. Fees could reduce earnings on the account. Limit of one Colossal Checking account per member.
Before closing the books at the end of each reporting period, the accounting staff must verify that the detailed total of all accounts payable outstanding matches the payables account balance stated in the general ledger. Doing so ensures that the amount of accounts payable reported in the balance sheet is correct. This is called an accounts payable reconciliation. The accounts payable reconciliation process encompasses the following steps:
- Compare the ending accounts payable account balance in the general ledger for the immediately preceding period to the aged accounts payable detail report as of the end of the same period. If these numbers do not match, you will have to reconcile earlier periods before attempting to reconcile the current period. If the variance is immaterial, it may be acceptable to proceed with the reconciliation for the current period.
- Review the accounts payable general ledger account to see if any journal entries were made to the account during the current reporting period. If so, document these items in a reconciliation spreadsheet.
- Print the ending aged accounts payable report for the current reporting period. Enter the total amount outstanding from this report on the reconciliation spreadsheet. At this point, the reconciliation should be complete. If there is still a variance, and it is not a variance that occurred in a prior period, consider the following additional reconciliation steps:
- Verify that the accounts payable journal was properly posted to the general ledger.
- Verify that the aged accounts payable report was printed after all posting was completed.
- Verify that the general ledger is set to the correct reporting period.
This reconciliation process can be a difficult one when it is being performed for the first time. However, once all errors have been spotted and corrections made, it is usually relatively easy to update the reconciliation document in subsequent reporting periods.
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