Bank Logs 101: Your Guide to Creating Bank Logs

This article is a summary of the YouTube video ‘Creating Bank Log for Bankers’ by Thom Gibson

Written by: Recapz Bot

Written by: Recapz Bot

AI Summaries of YouTube Videos to Save you Time

How does it work?
Utilize Bank Log to communicate, calculate, duplicate, and share client transactions.

Key Insights

  • Creating a "Bank Log for Clients" can help with communication
  • Use the headings "Date," "Transaction," "Deposit," "Withdrawal," and "Balance"
  • Utilize equations to calculate balances efficiently
  • Copy or duplicate entries for multiple clients
  • Double-click on each duplicated entry to add client names
  • Start with today's date and the client's starting balance
  • Add the client's payday or direct deposit
  • Click "Share" to share the document with clients, ensuring they can only view it
  • Consider creating a new folder on your computer to store the file

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Transcript

All right, bankers, since you’re going to be doing this for your clients, this will also actually help out with communication quite a bit, so they’ll be able to see what you have all the time.

Start a new one that says, “Bank Log for Clients,” and then you do, “Date Transaction Deposit Withdrawal and Balance.”

The best way to kind of go about this so it goes as quickly as possible, I would take … Let’s see. I would start your equations. I would say, “Equals that cell above plus two to the right minus two to the left minus one to the left.” That one equation, and then I would just fill it up like this.

Your first … Well, just do this much so far. Then the cool thing is what you can do is instead of doing this over and over and over again, you can copy or duplicate each one of these, duplicate. For however many, maybe you have four clients, duplicate. Then you can double-click on this and then put your client’s name, “Client 1.” Double-click, “Client 2.” Double-click, “Client 3,” and “Client 4.” I’m going to go back to “Client 1.” Let me erase that. I was working on something.

I’m not going to do all of the transaction history because that will take a little bit. I’m going to go ahead and just start with today’s date, which is going to be whatever today’s date is. I’m going to write, “Starting Balance.” Whatever their starting balance is, the last number that you wrote on their paper copies, you’re going to write what it is. Let’s say they have $1,250. It’s going to populate the rest of this for you. It’s going to fill in the rest of this for you.

Then the first thing you’re going to have to do is put their payday. If your client makes $750, you need to put their…because they’re not going to be coming with a check anymore. It’s going to be direct deposit. It goes directly in their bank. You need to go through, get their starting balance, and then add their payday.

In class, we’re going to do rent, but make sure each one of your clients has their starting balance and their payday. For your clients to be able to see this, this part’s really important.

You’re going to have to click “Share,” and you’re going to have to share it with your clients. You’re going to type in their names, all four of their names, all five of their names, but do not say, “Can edit.” All that they can do is view because you don’t want them to be able to change numbers or think that this is theirs and start adding something, and then you come back, “Wait, where did this come from?” You want them only to be able to look at this document.

They’re going to have to click on their tab, but you want them only to be able to look at it. It’s okay if they see other people’s. No one can actually change it except for you. You’re going to have to send an email and share it with all of your clients and change that so that they can only view it.

Let me know if you have any questions about this, and keep this in your pre-algebra, or you can create a new classroom economy folder on your computer.

This article is a summary of the YouTube video ‘Creating Bank Log for Bankers’ by Thom Gibson