Bank Reconciliation Statement

Why do companies prepare Bank Reconciliation Statement? what is the use of it?

Questions by Naveen Chinna

Showing Answers 1 - 11 of 11 Answers

mangiraj yumkham

  • Jul 24th, 2011
 

Bank reconciliation statement is a statement of showing details of difference between the bank balance and book balance of bank account. It is prepare because a banking transaction is recorded at different date by the bank and the company. this statement tells us cheques which are not presented for payment or deposited but not credited and any other bank related problem like bank charge etc, are shown.

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ruhinaz

  • Sep 18th, 2011
 

Bank reconciliation statement explains the difference between the two balances in the cash book and pass book.which should be same in both books.BRS match the balance of the cash book and the bank pass book.

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Ajit Mishra

  • Nov 18th, 2013
 

Q. No. What is fictitious assets ? give some example & explain related to all entry shown !

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sandip singh

  • Feb 21st, 2014
 

Bank reconciliation statement is comparing & matching a Company Bank books and bank statement , it also ex plane the diff, between them ,

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ANKUR ARORA

  • May 15th, 2014
 

Asset created by an accounting entry (and included under assets in the balance sheet) that has no tangible existence or realizable value but represents actual cash expenditure. The purpose of creating a fictitious asset is to account for expenses (such as those incurred in starting a business) that cannot be placed under any normal account heading. Fictitious assets are written off as soon as possible against the firms earnings.

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Meer Tasleem Arief

  • Jan 10th, 2015
 

Bank Reconciliation statement is the difference between the cash book balance & bank Book Balance are found out and Adjusted are done on it.

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Ramu.k

  • Jul 9th, 2016
 

Bank reconciliation statement is prepared to reconcile the bank balance as per cash book with the balance as per bank pass book

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chand

  • Apr 2nd, 2017
 

Fictitious means Imaginary. Assests Which are invisible are called Intangible assest like copyrights, patents, Goodwill

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chand

  • Apr 2nd, 2017
 

Bank Reconciliation statement is done weekly, 15 days, months as per company polices. To check balance of cash book to the pass Book

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shahim

  • Aug 27th, 2017
 

First we credit the amount to customer ac and debt to bank ac, once bank reco we understand how many double entry and how many payment realized in companies bank ac

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Gali Manoj

  • Aug 30th, 2017
 

BRS may be defined as the statement showing the difference between the Cash Book and Pass Book
The BRS process helps to identity the errors omitted either in cash book or pass book
BRS may also show any delay in the clearance of cheques.

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