Is Bank Reconciliation Statement is compulsory prepared?
Even when both cash & Bank Book are tally?
Answers were Sorted based on User's Feedback
Answer / bharat
Yes. How can we know all chqs deposited/issued cleared or
not. Balance may b tally bcoz compansation entry. Eg.
Rs.500/- chq issued but not cleared & Rs.500/- bank charges
dr. by bank not in bank book of company
|Is This Answer Correct ?||67 Yes||4 No|
Answer / ganesh reddy
ON MY view,
the BRS Is prepared to know the diff bitween CB AND PB.
Even CB and PB also eqeal ,there also we can find some diff.
Eg:- if we issued a cheek to our creditor Rs 1000/- but he
is not withdrawn.
we also took one cheek from our Dr Rs 1000/- but not
deposited into bank but we recorded our books.
then also the both books to be same.
for find this mistakes we compulsary made BRS.
|Is This Answer Correct ?||30 Yes||5 No|
Answer / firstname.lastname@example.org
The logic behind this requirement is we have to be sure &
secure whether all the deposits we have made are accounted
by bank properly.Bcoz if some mistake happened at Banker's
end say it has been credited to some xyz account by error
what will happen. Imagine U might have issued cheques based
on the deposits u have made. In order to over come these
difficulties we necessarily have to prepare BRS. Bank
charges & Interest (payable/received) can be derived only if
you can able to do BRS.
This is not to scrutinize the Banker but to check the
accuracy of books of accounts at our end.
The most important amazing fact is that most of the
fraudulent activities can be found out only with the help of
|Is This Answer Correct ?||19 Yes||1 No|
Answer / siva kumar
yes.cash book& bank book both are complisory equal.
|Is This Answer Correct ?||23 Yes||9 No|
Answer / abdul bari
yes, eventhough the cash and bank books tally
|Is This Answer Correct ?||10 Yes||3 No|
Answer / ankush kumar
BRS is prepared to know the reason of diff. b/w cash book and pass book.
even CB and PB balances are tally we should make BRS because balance may be tally rectification entries....
Like we deposited a ch. of rs.1000. and yet not cleared and bank credited rs. 1000 as interest. so balance will be tally.
|Is This Answer Correct ?||7 Yes||1 No|
Answer / ashish baisoya
yes, that is used for equilization of cash book & pass book
eg:cheque deposite but not cleared in bank
|Is This Answer Correct ?||5 Yes||0 No|
Answer / madhava
i agree with all above.
|Is This Answer Correct ?||7 Yes||3 No|
Answer / raghu
yes.cash book and pass book complisory is equal
|Is This Answer Correct ?||6 Yes||4 No|
Answer / m irfan khan
the meaning of brs statement is that it is prepare when
there is a difference between cash book and pass book for a
particular period. it clearly indicate that if only when
there is difference you need to prepare
|Is This Answer Correct ?||5 Yes||3 No|
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