What do you mean by Bank Reconciliation Statement(BRS)?
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Answer / mohan kumar.g
Bank Reconciliation Statement means is the method of
maintaining the balance in the accurate manner so that we
can able to check our availability of fund for the further
transactions.
| Is This Answer Correct ? | 61 Yes | 10 No |
Answer / basanti
BRS is a statement which is prepared for verifying &
reconciling the bank balances which is shown by cash book &
pass book and incorporate the reason of disagreement
between them.
| Is This Answer Correct ? | 45 Yes | 5 No |
Answer / venkat
the bank reconciliation statement means to know the
companay balance and bank balance is known as bank
reconciliaton statement
2.the BRS means to know the daily balance information
| Is This Answer Correct ? | 47 Yes | 17 No |
Answer / rajesh
BRS ( bank reconciliation statement )is nothing but just
verify both the cash book and bank book whether all entries
made correctly or not
| Is This Answer Correct ? | 31 Yes | 1 No |
Answer / raj kumar singh
A bank Reconciliation statement can be defined as a statement prepared at periodical intervals,with a view to indicate the items which cause disagreement between the balances as per the Bank columns of the cash book and the bank pass book on any given date.
| Is This Answer Correct ? | 17 Yes | 4 No |
Answer / provat
BRS is adjustment between bank book & pass book.
| Is This Answer Correct ? | 14 Yes | 5 No |
Answer / sri parimala
Matching of two ledger a/c's and identifying the disconnects
| Is This Answer Correct ? | 13 Yes | 6 No |
Answer / md. sirajul islam
Bank reconciliation is the process of matching and comparing figures from accounting records against those presented in a bank statement.
or
Bank reconciliation is the bank adjustment statement to identify the reasons of in-consistence between bank statement and bank book.
| Is This Answer Correct ? | 2 Yes | 0 No |
Answer / bhaskar kaliyaperumal
Since there are timing differences between when data is
entered in the banks systems and when data is entered in the
individual's system, there is sometimes a normal discrepancy
between account balances. The goal of reconciliation is to
determine if the discrepancy is due to error rather than
timing.
| Is This Answer Correct ? | 2 Yes | 2 No |
Here is a question i was asked below is the scenario need to enter journal entrries for both accounting system Cash and Accrual :- 1) Landlord A/c 2) Tenant A/c 3) Bills Receivable A/c 4) Cash A/c 5) Bank A/c Situation:- 1) Bill is created. 2) Bill is sen to the tenant, journal entry =? 3) Cash is received from the tenant, journal entry=? 5) If cheque is received from the tenant, journal entry=? 6) Receipt is created. 5) Receipt is sent to the tenat, journal entry=? Its urgent, please help.
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