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what is BRS
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Answer Posted / chandana
BRS stands for Bank Reconciliation Statement. It is prepared
to find out the diffrence between the bank cash book and
pass book.The bank cash book is maintained by the customer
and the pass book is maintained by the banker himself. The
customer ( either a company or an individual)keeps both cash
book and passbook with himself and reviews the passbook with
the banker whenever he goes to the bank. The main reasons
for diffrence between cash and passbook are as fallows:
1. Cheques deposited into bank but not credited.
2. Cheques drawn but not presented for payment.
3. Bank charges are debited in bank account.
4. cheques dishonoured.
| Is This Answer Correct ? | 10 Yes | 2 No |
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