Interested to Buy Any Domain ? << Click Here >> for more details...
If Pass book & Cash Books Balances are showing same so are
you need to BRS ?
- 17 Answers
- 29292 Views
- Genpact, iGate, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
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 |
How to calculate sundry creditors in Tally ERP
IN ONE OF THE MAUNUFACTURING COMPANY, THE MANAGMENT WAS VERY MUCH INTERESTED TO INTRODUCE ERP(IT IS FOREIGN SOFTWARE)BASED ON SOME ATTRACTIVE FEATURES EXPLAINED BY THE ERP SOFT WARE COMPANY/AGENCY . THE ACCOUNTING STAFF ARE ALL CONVERCENT WITH TALLY ACCOUNTING PACKAGE(INDIAN ACCOUNTING METHOD). THEREFORE THEY WOULD LIKE TO KNOW THAT (I) WHAT ARE THE DIFFERENCE BETWEEN A TRIAL BALANCE FROM NORMAL TALLY ACCOUNTING AND ERP GENREATED TRIAL BALANCE (2) SINCE THE BOTH THE TRIAL BALANCE WILL BE HAVING DIFFEERENT DATAS HOW SOME ONE CAN MAKE A FINAL ACCOUNT SUCH AS TRADING A/C PROFIT & LOSS ACCOUNT AND BALANCE SHEET AS PER INDIAN COMPANIES ACT. THE TRIAL BALANCE AS PER ERP SHOW SOME COST OF PRODCUTION A/C, LABOUR/MATERIAL/VALUE VARIANCE A/C. SAY ALL THESE VARIANCE ARE CORRECT AND BASED ON THE ACTUAL TRANSACTION TAKEN PLACE, HOW SOMEONE CAN A FINAL ACCOUNT MEANT FOR INDIAN ACCOUNTING POLICY WHICH TO BE SUBMITTED TO VARIOUS GOVT BODIES? I AM TOTALLY CONFUSED
cash with drawn from bank with issuing self check vide ch no.123456 how to enter in sap. please send answer anyone this is very helpful to me
What is Amalgamation?
FIXED Asset - What is the most used method/right method in Depreciation in India and other countries..? (ie., Straight line method,Written down value method. or etc.,). The calculation for depreciation how it stand commonly in all organization..? Is there any difference between companies and assets..? Your answer will be highly appreciated. Thanks in advance.
Who owns the general ledger?
How many types of Methods of Depreciation Calculation ?
Sir, we have investment shares some company how to calculate gain/loss please send format brefly fifo, lifo and average method
which expenses are covered under indirect expenses
What is the order of priority of the following. 1.Trial Balance,2.Sales Ledger,3.Journal Entry,4.General Ledger,5.Balance Sheet,6.Profit and Loss Account,7.Cash Flow and fund flows.
What is the difference between Capital and Total Equity in a Company?
how to applicable esi what is the rate of percentage i am getting Rs. 15000/- gross salary and how much amount will deduct esi from my salary
Audit 
