A bank passbook register is a compact booklet provided by banks to their customers for the purpose of manually recording transactions related to their bank accounts. It serves as a convenient and tangible tool for users to track their finances, monitor account activity, and maintain a record of deposits, withdrawals, transfers, and other transactions.
Transaction Record Pages: Inside the register, there are pages dedicated to recording individual transactions. Each page typically contains columns or fields for the date of the transaction, a description or reference number, the type of transaction (e.g., deposit, withdrawal), the amount, and a running balance. The user fills in these details manually for each transaction, updating the balance accordingly.
Balance Calculation: The register often includes space or instructions for calculating the account balance after each transaction. Users can update the balance by adding or subtracting the transaction amount from the previous balance, ensuring an accurate and up-to-date account balance at all times.