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If Pass book & Cash Books Balances are showing same so are
you need to BRS ?
- 17 Answers
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Answer / nibinpn
yes, Because some times missing of same figure shows same
balances in bank account and pass book
for eg: Rs 500 not shown in company books(interest recorded
in pass book not shown in company books) and Rs 500 not
shown in pass book(cheque issued by the company but not
collected by the party)
| Is This Answer Correct ? | 49 Yes | 3 No |
Answer / avanti
yes.because by preparaing this we will know corretness of
each entry,which is effecting to cash n bank a/c.
| Is This Answer Correct ? | 8 Yes | 1 No |
Answer / suvankar pal
Yes, we have to prepare BRS even at the time of equal
balance between Pass Book & Cash Books the reason behind it
is to verify each and every entry and to avoid compensating
errors also.
| Is This Answer Correct ? | 5 Yes | 0 No |
Answer / pankaj gupta
yes, because tallying ballance in bank passbook and co's
cash book never means that all issued cheque have presented
for payment and all cheques received have cleared, because
some times differententeries of same figure shows same
balances in bank account and pass book
lets see : a cheque of rs. 1540 issued to a creditor and
the cheque not presented for payment, bank charged same
amount(rs. 1540) as bank charges and it not recorded by
company,
this transaction also reflect same balance..........
| Is This Answer Correct ? | 5 Yes | 0 No |
Answer / sunilkumarsuresh
BRS-Bank Reconconcilliation is doing to ascertain the
accuracy of the bank ledger account.Eventhough the bank
balance is same ,we have to reconcille each
transactions.The amount in our bank account may be the same
but it may be recieved or paid to different parties.
So the answer is YES
TanQ
| Is This Answer Correct ? | 4 Yes | 0 No |
Answer / surya
Yes, why inthe sense Sometimes Amount is equal but entry is
different.
| Is This Answer Correct ? | 2 Yes | 0 No |
Answer / h.r. sreepada bhagi
Even if the balances of Bank pass Book & Company's bank book
are matching, reconciliation needs to be done to ensure the
correctness of the transactions. 'Compensatory Errors'
(Example is given in one of the answers above), will come to
notice only when reconciliation is prepared. In case all the
entries are matching, then also from the view point of
confirmation and audit, it should be mentioned in the Bank
Reconciliation Statement.
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / s
yes bcoz sometime compensating errors occur i.e rs 500 of discount not entered in company book but charged in bank pass book and cheque rs 500 received bt not sent to band whereas not recorded in bank pass book.
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / u.uma bharathy
yes,we know the balance of day to day transanction,based on
this pass book & cash book.
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / mohd danish (associate in genp
Yes,, Bank Reconciliation statement is prepared to know the
differences of cash book and pass book and is to reconcial
the correctness of the balance.so it is necessary to
prepared.
| Is This Answer Correct ? | 0 Yes | 0 No |
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