what is bank reconcilations statement
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Answer / samreen
BRS means analysis and adjustment difference between the
cash shown on a bank statement, and the amount shown in the
account holder's records. This matching process involves
making allowances for the cheques issued but not yet
presented, and cheques deposited but not yet cleared or
crideted. And, if discrepancies persist, finding the cause
and bringing the records into agreement
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Answer / vivek mohan nair
Bank Reconciliation Statement is a statement which is prepared to tally between cashbook and bankbook. We can prepare reconciliation statement monthly, quarterly, half yearly and yearly. (It depends)
Reconciliation Statement is also prepared for parties such as sundry debtors and sundry creditors.
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Bank reconciliation statement is a statement by which we generally use to Know the actual balance as per our record & bank record on a particular date and if any difference occurs, finds out the reason for . like cheque issued but not cleared, bank charges, and other reasons.
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