Its been awhile since we’ve posted a quick trick tip, but I believe we’re up to quick trick tip number 5. As a reminder to everyone these quick trick tips are brought to you in an effort to make everyone else a bit more aware and educated as to Financial tricks that are out there today and attempt to rob you of your money. Many of these we would never think of, unfortunately through my own personal experience I’m sharing these painful lessons with you all and I hope that it helps make you more aware of what exists out there today and if preventive an assist you down the road.
This is going to focus around your banking institution selecting one that is the most effective that helps to support you with managing your money.
One may not think necessarily that something as simple as the reporting and statement design should be a consideration and factor in the banking institution you choose. your statement may just be an ongoing log of transactios bys date. Or perhaps your statement is going to be split up into sections with respect to transaction type. this becomes concerning unless you’re sitting auditing everything otherwise you don’t get a day by day picture so you’re never able to see perhaps in the course of the same day if there transacted several different items taking this test for the course there was a deposit here of a series of checks that totaled approximately $3,400. So on your bank statement if its split into sections it will look as if you’ve made one deposit totaling $3,400.00 but in reality, there was a withdrawal of $2400 dollars that did not get deposited which actually was a withdrawal so there was no deposit of $3400 in reality would show in a separate section and in reality only $900 got deposited. Thus beg the question of where did you put the other 2400 which you never would have known about if you didn’t have an effectivr enough banking statement to cross reference to know $2400 is unaccounted for.