What does "balancing the books" mean?

[Anonymous 1]

When talking about money/finances?

[Anonymous 2]

I assume balance a checkbook? Which I haven't done in years. With apps and everything these days I don't see the need to.

[leadfoot40]

You're joking right?

[mcginnisc]

Making sure what I say we have in the accounts matches what the bank says we have.. making sure it is the same on both ends or balanced.

[Baconqueen13]

Most people don't "Balance the books" anymore with the push to automatic checking and debit cards etc. In older days when most transactions were done using either cash or check and wrote in ledgers it was a means of comparing the ledger in your check book ( as well as receipts etc) with the bank statement and making sure that they "matched" and all money was accounted for.

[Anonymous 1]

You're joking right?

Nope

[SisterSomeone]

I literally know the answer to this because I googled it once. I've never had to do this and I didn't know what it meant until I was like 27 or so. All my accounts have been electronic ever since I first opened one.

[Anonymous 3]

In the old days before the internet and electronic banking people used to have to do math and write down what they spent and how much was coming in. I do both electronic and pen and paper balancing for several reasons. Although I see the ignorance of youth a lot thanks to social media and the nonsense being taught in schools today, it astounds me how much over reliance there is on technology.

[leadfoot40]

You're joking right?

Nope

How old are you?

[ReadingRainbow]

How much is going in vs. how much is going out