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GeekInterview.com > Interview Questions > Accounting > Accounts Receivables
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Question: BRS
Answer: what is brs |
| June 06, 2008 04:34:11 |
#1 |
| Sweete |
Member Since: June 2008 Total Comments: 7 |
RE: BRS
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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 |
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