Bank of America in your books

Each Bank of America account you open becomes its own cash account in the chart of accounts. Checking, savings and money market accounts all count as cash on the balance sheet, so one left off the books understates what the company has.

Most money passing through a bank account is the other side of something already recorded. A customer payment settles a receivable, a bill payment settles a payable, and a card payment pays down the card liability. The account itself creates very little income or expense: interest it pays you goes to interest income, and the fees it charges go to bank fees.

Transfers between your own accounts create none. When $50,000 moves to savings, one entry debits savings and credits operating. Both bank feeds will show a line for it, one going out and one coming in, and both should match that single entry.

Reconcile every account to its statement, savings included, even if nothing happened in it that month. The book balance should equal the statement's ending balance once you account for specific items, like a check that hasn't cleared or a deposit still in transit.

Look for a transfer that only shows on one side. If savings went up by $50,000 and operating didn't go down, the transfer was booked once from one feed and something else was matched to the other.

Reconciliation is the monthly proof behind every cash figure, and the cash flow statement starts from these balances. Chase covers the operating account side.