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What is BRS? What is the use of BRS
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Answer / rakesh
some time bank statement and bank ledger does not show the
equal balance. It may due to underprocess of cheques, bank
charges not effected in bank ledger and many other's
reseaon. To equalised the balance of both bank pass book
(bank statement) and bank ledger through sepecific format
is called BRS.
| Is This Answer Correct ? | 65 Yes | 10 No |
Answer / s.kumuda
BRS means Bank Reconciliation Statement.It may defined
as "A statement prepared with the uncommon adjustments of
pass book and cash book to findout the reasons of
difference in the balance as shown by the banker's pass
book and trader's cash book.
| Is This Answer Correct ? | 42 Yes | 8 No |
Answer / rahul brahmankar
BRS full form is Bank reconcilation statement.which is use
to make up the balances of cash & bank
| Is This Answer Correct ? | 24 Yes | 4 No |
Answer / izhar
BRS Means Bank Reconciliation Statement,the main purpose of
BRS is to Know the Difference between Bank Book and Bank
Statement entries.
| Is This Answer Correct ? | 23 Yes | 7 No |
Answer / biswajit
BRS Means Bank Reconciliation Statement, it main purpose to
know the position of the chqe & it tally with your book
Statement and bank statement .
| Is This Answer Correct ? | 12 Yes | 5 No |
Answer / sudhakar
How to Prepare a Bank Reconciliation Statement:
To prepare the bank reconciliation statement, the following rules may be useful for the students:
Check the cash book receipts and payments against the bank statement.
Items not ticked on either side of the cash book will represent those which have not yet passed through the bank statement.
Make a list of these items.
Items not ticked on either side of the bank statement will represent those which have not yet been passed through the cash book.
Make a list of these items.
Adjust the cash book by recording therein those items which do not appear in it but which are found in the bank statement, thus computing the correct balance of the cash book.
Prepare the bank reconciliation statement reconciling the bank statement balance with the correct cash book balance in either of the following two ways:
(i) First method (Starting with the cash book balance)
(ii) Second method (Starting with the bank statement balance)
First Method (Starting With the Cash Book Balance):
(a)
If the cash balance is a debit balance, deduct from it all cheques, drafts etc., paid into the bank but not collected and credited by the bank and added to it all cheques drawn on the bank but not yet presented for payment. The new balance will agree with bank statement.
(b)
If the bank balance of the cash book is a credit balance (overdraft), add to it all cheques, drafts, etc., paid into the bank but not collected by the bank and deduct from it all cheques drawn on the bank but not yet presented for payment. The new balance will then agree with the balance of the bank statement.
Second Method (Starting With the Bank Statement Balance):
(a) If the bank statement balance is a debit balance (an overdraft), deduct from it all cheques, drafts, etc., paid into bank but not collected and credited by the bank and add to it all cheques drawn on the bank but not yet presented for payment. The new balance will then be agree with the balance of the cash book.
(b) If the bank statement balance is a credit balance (in favor of the depositor), add to it all cheques, drafts, etc., paid into the bank but not collected and credited by the bank and deduct from it all cheques drawn on the bank but not yet presented for payment. The new balance will agree with the balance of the cash book.
Read more at http://accounting4management.com/bank_reconciliation_statement.htm#1Pvzu3YPaSbRCl8l.99
| Is This Answer Correct ? | 9 Yes | 3 No |
Answer / neeraj
the bank balance as per the cash book as on a particular
day should tally with the balance shown by the bank as per
the bank statement
| Is This Answer Correct ? | 8 Yes | 10 No |
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