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what is BRS
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A bank reconciliation statement is a statement where in the
causes responsible for the difference between the cash book
balance and the pass book balance(as per bank balance) is
ascertained and suitable adjustments are made thereon so
that the balance of both the books are reconciled or agreed
with each other.
A bank reconciliation statement can be started either with a
cash book balance or with a pass book balance.
Reasons for difference
1. Deposits made by the third party directly to the bank.
2. Cheque deposited by into the bank but not yet cleared.
3. Interest & charges debited or credited by bank.
4. Cheque issued but not presented for payment by the third
party.
| Is This Answer Correct ? | 244 Yes | 21 No |
Answer / guest
BRS means Bank Reconciliation statement prepared by the
company to balance the bank book ant the bankers statement
| Is This Answer Correct ? | 175 Yes | 39 No |
Answer / ravi chandra
BRS meams Bank reconcilation statement. Its prepared to know
the deferrences between cash book and pass book. its
prepared monthly one time.
Reasons for deferrences b/w pass and cash book
- Cheques deposited but not collected yet the bank.
-- cheques issued but not presented yet the bank.
- bank directly pay to parties on behalf of the customers.
- bank charges are debited in bank book
- cheques dishonoured.
| Is This Answer Correct ? | 73 Yes | 17 No |
Answer / ravipolina
B.R.S means bank reconsilation statement. it is prepared
to know the differences between pass book &cash book balance
reasons for differences -
- cheques deposited but not yet collected
- cheques issued but not yet presented
-cheques dishonoured
- a cheque directly deposited by costoumer in the partys
a/c with out informing
following are some differences when cash book balances&
pass book balances does not match
| Is This Answer Correct ? | 45 Yes | 8 No |
Answer / sujatha
BRS means Bank reconcialation statement.this is the
statement which has been prepared by the accountant.this
helps in knowing the cash balance of customer and to know
whether the transactions were entered or not in the cash
book or pass book.
| Is This Answer Correct ? | 34 Yes | 9 No |
Answer / krishna murthy k.s.
Bank Reconciliation statement refers to the comparing 2
books of accounts viz, Bank book & Bank Statement at any
given date or end of the month.
It gives clarify about chqs deposited but not realised,
cheques issued but not presented, debits not accounted by
us and bank deposits (credits) not accounted by us, upon
reconciling the books.
With the above basic concept, there are many ways of
reconcilation of BRS according to the Operating system of
Computer accounting.
| Is This Answer Correct ? | 26 Yes | 6 No |
Answer / mk pasha
BRS is stand for Bank Reconcilisation Statement, it is used
to know the difference balances shown by the traders cash
book balance and bankers pass book balance.
| Is This Answer Correct ? | 24 Yes | 5 No |
Answer / venkat
BRS:
BANK RECONCILIATION STATEMENT it is a statement to trace
out te difference between the cash book and pass book.
| Is This Answer Correct ? | 19 Yes | 1 No |
Answer / ramgopal somasundaram
A bank reconciliation statement is a statement prepared by
organizations to reconcile the balance of cash at bank in a
company's own records with the bank statement on a
particular date.
The difference between the two records on a given date may
arise because of the following:
Cheques drawn but not yet presented to the bank.
Cheques received but not yet deposited in the bank.
Interest credited and not recorded in the organization's
books.
Bank charges debited but not recorded in the organization's
books.
| Is This Answer Correct ? | 23 Yes | 7 No |
Answer / rajesh
Bank reconsilation statement is a statement to reconcile the
bank balance as per pass book with bank balance as per cash
book is called bank reconsilation statement
| Is This Answer Correct ? | 21 Yes | 6 No |
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