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Answer Posted / bhushan
BRS (Bank reconciliation statement) is the statement
prepared to Reconcile the balance of bank a/c as per books
and the balance as peer the bank pass book. Generally the
balance as per accounts book and as per the bank pass book
differs. and the reason for this are as follows.
1.Cheque issued & entered in the accounts but are not
presented to the bank and hence not reflected in the pass
book/Bank statement
2. Cheques received recorded in the books but not yet
cleared hence not reflected in the bank pass book
3. charges charged by the bank reflected in the bank pass
book but as these are not knowned to the accountant hence
not reflected in the accounts.
4. payments diredctly made by the bank reflected in the
pass book but not entered in the account books.
5. amounts directly received by the bank by fund tranfer
etc. but not yet recorded in the books of accounts etc.
so to find out such reasons of differnce reconciliation is
made.
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