A bank reconciliation statement is a statement where in the
causes responsible for the difference between the cash book
balance and the pass book balance(as per bank balance) is
ascertained and suitable adjustments are made thereon so
that the balance of both the books are reconciled or agreed
with each other.
A bank reconciliation statement can be started either with a
cash book balance or with a pass book balance.
Reasons for difference
1. Deposits made by the third party directly to the bank.
2. Cheque deposited by into the bank but not yet cleared.
3. Interest & charges debited or credited by bank.
4. Cheque issued but not presented for payment by the third
party.
BRS meams Bank reconcilation statement. Its prepared to know
the deferrences between cash book and pass book. its
prepared monthly one time.
Reasons for deferrences b/w pass and cash book
- Cheques deposited but not collected yet the bank.
-- cheques issued but not presented yet the bank.
- bank directly pay to parties on behalf of the customers.
- bank charges are debited in bank book
- cheques dishonoured.
BRS means Bank reconcialation statement.this is the
statement which has been prepared by the accountant.this
helps in knowing the cash balance of customer and to know
whether the transactions were entered or not in the cash
book or pass book.
Bank Reconciliation statement refers to the comparing 2
books of accounts viz, Bank book & Bank Statement at any
given date or end of the month.
It gives clarify about chqs deposited but not realised,
cheques issued but not presented, debits not accounted by
us and bank deposits (credits) not accounted by us, upon
reconciling the books.
With the above basic concept, there are many ways of
reconcilation of BRS according to the Operating system of
Computer accounting.
B.R.S means bank reconsilation statement. it is prepared
to know the differences between pass book &cash book balance
reasons for differences -
- cheques deposited but not yet collected
- cheques issued but not yet presented
-cheques dishonoured
- a cheque directly deposited by costoumer in the partys
a/c with out informing
following are some differences when cash book balances&
pass book balances does not match
A bank reconciliation statement is a statement prepared by
organizations to reconcile the balance of cash at bank in a
company's own records with the bank statement on a
particular date.
The difference between the two records on a given date may
arise because of the following:
Cheques drawn but not yet presented to the bank.
Cheques received but not yet deposited in the bank.
Interest credited and not recorded in the organization's
books.
Bank charges debited but not recorded in the organization's
books.
Bank reconsilation statement is a statement to reconcile the
bank balance as per pass book with bank balance as per cash
book is called bank reconsilation statement
BRS is stand for Bank Reconcilisation Statement, it is used
to know the difference balances shown by the traders cash
book balance and bankers pass book balance.
Bank Reconciliation Statement means a Statement prepared to
find out the reasons for differences between balances of
Cash Book (maintained by the Company) and the Bank Statement
(Rendered by the Bank). Eventually the balance of Bank
Statement tallies with Cash Book and vice versa.
BRS stands for Bank Reconciliation Statement. It is prepared
to find out the diffrence between the bank cash book and
pass book.The bank cash book is maintained by the customer
and the pass book is maintained by the banker himself. The
customer ( either a company or an individual)keeps both cash
book and passbook with himself and reviews the passbook with
the banker whenever he goes to the bank. The main reasons
for diffrence between cash and passbook are as fallows:
1. Cheques deposited into bank but not credited.
2. Cheques drawn but not presented for payment.
3. Bank charges are debited in bank account.
4. cheques dishonoured.
BRS is the Bank Reconcilation statement it is statement to
reconcile the Books of accounts. It is the balancing of
bank book and bankers statement.The reason for the
difference is i.e cheques deposited but not credited by
bank,cheques drawn but not presented for the payment,
cheques dishonoured.
BRS IS NATHING BUT A BANK RECONCILIATION STATEMENT TO
VERIFYING THE BANK STATEMENT TO BANK BOOK TO CASH BOOK TO
EQUALIZED THE BALANCE OF BOTH BOOKS IS CALLED BANK
RECONCILIATION STATEMENT
BRS MEANS BANK RECONSILATION STATEMENT, IT IS A STATEMENT
PREPARED BY ORGANISATON. IT MEANS RECONSILE THE BANK BOOK
IN AN ORGANISTION WITH PASS BOOK ON SPECIFIC DATE.MAINLY IT
IS USED OF INTERNAL CHEKING PURPOSE AND IT IS PREPARED
WEEKLY AND MONTHLY BASIS.
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42. G.Simkins sends back stock to J.J. Fabrics (a
supplier), having originally purchased it on Credit. J.J.
fabrics issued a Credit note for the value of these goods.
In simkins’ books, the double entry for this transaction
should be.
a) Debit : J.J. Fabrics; Credit purchases
b) Debit : purchases; credit J.J. Fabrics
c) Debit : J.J. Fabrics; credit purchase returns
d) Debit: purchases returns; credit J.J Fabrics.