When you open a checking account, you'll receive checks, and a book called a register. You write the amount of your deposits and the amount of the checks you have written in the register. This way you always know how much money is in your account. Once a month the bank sends you a statement. This is similar to your check register. The bank statement lists all the checks you've written, all the deposits you've made, and tells you exactly how much money is in your account. Compare the numbers in your register to the numbers on the statement. This is called balancing your checkbook. When you balance your checkbook, you make sure that right amount of money has been given to the people you owe.