Poderá ter um outro sentido, tal como 'equlibrar o saldo de despesas-receitas', mas pª mim a tradução literal é esta.

:)

Acredito que essa expressão tem a ver com a pessoa equilibrar sua conta bancária (sair do vermelho).

'to balance the checkbook' quer dizer que a pessoa/empresa precisa equilibrar os gastos com a receita; o que paga com o que recebe.

equilibrar as contas

ou

equilibrar os gastos

Outra opção.
Bom trabalho!

Tozé,
segundo o Dicionário de Economia de F. Nogueira dos Santos, to balance the books (neste caso checkbook) é o mesmo que dizer fechar os livros, encerrar as contas ; também pode ser livro de inventário e balanços, logo a minha proposta de tradução é a seguinte:
Balanço do livro de cheques.
Bom trabalho

to balance the checkbook

Balancing the Checkbook

The local treasurer should balance the checkbook at the end of each month. You may create a bank reconciliation form or use the form that you will find on the back of your monthly bank statement.

Since there is always a time lag between the writing of a check and its clearing the bank, reconciling the checkbook helps show that your checkbook balance is in accord with the bank’s balance for your account.

The following procedures should be used as you balance the checkbook each month:

Sort the canceled checks in numerical order.
Reduce the checkbook balance by any service charges not yet recorded in your checkbook.
Enter the current bank statement balance on the form.
Enter and add any deposits that have not yet cleared the bank.
Make a list of all checks that have not cleared the bank.
Subtract the total of all uncleared checks from the adjusted bank balance, which includes any deposits in transit.
This balance should be the same as that in your checkbook.
Keep your canceled checks in a secure place. Fraud can happen, and checks that have already cleared the bank can be used by those who scan them or use other methods. You can also get checks returned on microfilm or CD-rom if it is available from your bank.
If you follow the practice of writing as many checks as possible at the beginning of the month, most will have cleared the bank and will be recorded on the statement. If you have a volume of checks, this will make the reconciliation easier.

Most new computer programs for accounting or check writing also have a bank reconciliation area to make this process easier for you.



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Note added at 12 hrs 26 mins (2003-10-07 04:44:33 GMT)
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ADMINISTRAR O TALÃO DE CHEQUES, talvez seja uma boa opção também, cheerS!