BRS is a statement which is prepared to know the reasons
for disagreemant of cash book and pass book.
BRS is even prepared when both the
balances of cash book and pass book are equal and opposite
BRS is generally prepared to reconcil balance between books
maintained by bank and the books maintained by us, which
does not tally due to cheques which are issued but not yet
presented in bank for clearance i.e, payment which is
debited by us but not credited by the bank.
Bank reconcilietion is a statement which is ment to prepare
to know the differences of amount that was being between
the cash book and bank balance that we are using during the
month
Bank reconcilation statement means journy from one book
(starting book) to another book (end book ) which giveing
effects Variation by plus or minus (+/-)
If there is any difference between the balance as per cash
book and pass book( i.e. book maintained by the bank), then
we prepare a statement to reconcile the balances is called
Bank Reconciliation statement.
bank reconsilation means finding the reasons for the differences between pass book and bank book and reconsiling both balances.
to do reconsilation two books are compulsary.
i have one doubt. i purchases of fixed assets from other
state the value 5 lack. the transpotation cost of 50
thousand now the value of fixed asstes is 550000 or only 5
lack, it is right or worng .. pls cleare my question