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What is bank reconciliation statement?
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Answer / 24akshaya@gmail.com
This is a statement explaining any difference between bank
book balance kept by the business and the bank statement
issued by the banker.
| Is This Answer Correct ? | 41 Yes | 6 No |
Answer / g k renjit
Bank Reconciliation statement is a statement prepared by a
customer of a bank showing the cause of disagreement between
the balance as per his cash book and pass book as on a
particular date.It is prepared to bring the cash book
balance in agreement with the balance as per pass book.
| Is This Answer Correct ? | 21 Yes | 3 No |
Answer / debasish pattnaik
Bank reconcilation statement is a statement which is
prepared by the business man to findout the error between
cashbook & passbook
| Is This Answer Correct ? | 14 Yes | 0 No |
Answer / md.azarath pasha
Bank Reconciliation statement is a statement prepared by a
customer of a bank showing the cause of disagreement between
the balance as per his cash book and pass book as on a
particular date.It is prepared to bring the cash book
balance in agreement with the balance as per pass book
| Is This Answer Correct ? | 7 Yes | 1 No |
From time to time the balance shown by the bank and cash
column of the cash book required to be checked. The balance
shown by the cash column of the cash book must agree with
amount of cash in hand on that date. Thus reconciliation of
the cash column is simple matter. If it does not agree it
means that either some cash transactions have been omitted
from the cash book or an amount of cash has been stolen or
lost. The reason for the difference is ascertained and cash
book can be corrected. So for as bank balance is concerned,
its reconciliation is not so simple. The balance shown by
the bank column of the cash book should always agree with
the balance shown by the bank statement, because the bank
statement is a copy of the customer's account in the banks
ledger. But the bank balance as shown by the cash book and
bank balance as shown by the bank statement seldom agree.
Periodically, therefore, a statement is prepared called
bank reconciliation statement
| Is This Answer Correct ? | 6 Yes | 0 No |
Answer / sri
Generally when a business man opens an account with a bank
he records the transactions with the bank in a book
maintained called 'Cash Book'. Similarly the bank too
maintains a book called 'Pass book' where all the entries
with that particular account are recorded from time to time.
In practice the balance shown in the cash book and pass book
are not always the same. For this companies generally
prepare a statement called 'BANK RECONCILIATION STATEMENT'
where the differences in pass book and cash book are
reconciled. This is generally done at the end of every month
. The companies should maintain accurate records of its
transactions.
| Is This Answer Correct ? | 3 Yes | 1 No |
Answer / karuna kandi
BRS is the process of comparing the amounts in the Cash
account in the general ledger to the amounts appearing on
the bank statement. The objective is to be certain that
there is consistency between the amounts and that the
company's amounts are accurate and complete.
| Is This Answer Correct ? | 3 Yes | 2 No |
Answer / pawan
Bank Reconciliation Statement is a statement which explain
the reasons of differences between closing Balance of Bank
Statement and Bank Book (Books of Account)on particular date.
| Is This Answer Correct ? | 3 Yes | 2 No |
Answer / guest
brs is a statement where it adjusted the differance
between cash book and pass book balances
| Is This Answer Correct ? | 2 Yes | 1 No |
Bank Reconcilation Statement is prepared to know the
reasons of difference between the balances of Bank Book and
Bank Statement in a particular date.
| Is This Answer Correct ? | 1 Yes | 0 No |
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