Question

When should you NEVER delete a check?

1) You recorded a check but have not printed it yet.
2) You printed a check on blank paper but now realize you don't want to record the check.
3) You accidentally recorded the same check (with the same check number) twice.
4) You printed a check, and the check number has been used.

Answer 1

You should never delete a check if it has been printed and the check number has been used, as it alters your financial records. Duplicate entries and unprinted checks can be deleted to maintain accurate records. Always keep tabs on your cash flow to avoid overdrafts.

Step-by-step explanation:

You should NEVER delete a check when the check number has been used and the check has been printed. Once a check is printed and the number has been assigned, it becomes part of your financial records. Deleting it would create discrepancies in your records and could lead to confusion or errors when reconciling your account.

Example Scenarios

• If you recorded a check but have not printed it yet, there's no harm in deleting it as it has not been issued physically or recorded by the bank.
• If you printed a check on blank paper but don't want to record it, technically you can delete it because it's like a draft. However, ensure that the check number isn't used again in your system.
• If you accidentally recorded the same check twice, you should delete the duplicate entry to prevent overstating your expenses.

When managing your finances, remember that balancing your checkbook is essential. It allows you to manage your money, keep tabs on your cash flow, and avoid an overdraft and associated fees. An overdraft occurs when you spend more than the balance in your checking account, leading to potential fees.