Sweete

 Profile Answers by Sweete 

• Jun 20th, 2008

 

BRS - Bank Reconciliation Statement

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 differences may arise because of the following reasons:
1. Cheques deposited into bank but not yet collected by bank
2. Cheques issued by the organization but not yet presented for payment
3. Cheques directly deposited by customers into the bank
4. Bank charges debited by bank
5. Interest credited or some receipts directly collected by bank based on org. request.
6. Some payments directly made by bank based on the organizations request.

So, the statement shows the reasons as what are the reasons for difference in balance.

Thanks,
Sweete

mmanivannanca

 Profile Answers by mmanivannanca 

• Jun 20th, 2008

 

Bank reconciliation is the process of matching and comparing figures from accounting records against those presented on a bank statement. Less any items which have no relation to the bank statement, the balance of the accounting ledger should reconcile (match) to the balance of the bank statement

jani basha

 Profile Answers by jani basha 

• Dec 3rd, 2008

 

Bank Reconsilation statement through which comparison of the pass book amounts with cash book amounts or equal the cash book amounts with pass book amount by some adjustments.
That adjustments are some transaction writen in one book and not writen in another book that type of transaction find and adjusted in reconsilation statement through which same amounts are got in two books

In reconsilation statement you take passbook amount at the end of statement you will get cash book amount vice versa.
Through which statement you will get  missing transations and adjusted.