Everyday Math for Everyday Life by Mark Ryan

Author:Mark Ryan [RYAN, MARK]
Language: eng
Format: epub
ISBN: 9780759527447
Publisher: Grand Central Publishing
Published: 2009-09-25T16:00:00+00:00

Now that you know there’s an error, there are a couple things you can do. My recommendation, as long as the discrepancy is relatively small, is to save yourself the trouble of trying to find the error and just accept the adjusted statement balance. You just write this number on the first empty line of your register, put a note by it, like “fudge,” and begin again from there. I realize that this may seem very unmathematical, and if you’re the type of person who likes to keep everything in order, ignoring an error like this might be hard to do—I don’t blame you, I like things to add up myself. But consider a few things.

First, it is very likely that the bank is correct and that the error is yours. In this case, you gain nothing by finding the error—except, perhaps, a little peace of mind. Second, let’s assume that the error is the bank’s. If the corrected statement balance is higher than you expected, just accept this little gift from your bank. (If the error isn’t small, it’s probably wise to contact your bank.) But even if the corrected statement balance is lower than your register balance, it might not be worth the trouble to hunt for an error in your register, find none, double-check your work, still find no error, and then have to go through the hassle of contacting the bank in the hope that they will find an error that they made—what’s much more likely is that they’ll find an error that you made. If your inner parent tells you that not finding such an error is lazy or sloppy, etc., tell him or her to get lost—remind them that they’re living in your head rent-free—and then point out that, in fact, it’s not lazy or sloppy, it’s smart and efficient, and, what’s more, accountants do it all the time.

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