Ohidah Kabir mohammed

• Aug 20th, 2006

 

A Bank rencilation statements are prepared  if balance of bank account as shown in cash book differs from balance as shown in passbook. this statement shows the reasons or transactions because of which balances as shown in cash book and pass book are not tallying with each other.

sreekala reddy

• Aug 29th, 2006

 

brief information about reconcillaton account. what for use how?can it used to company's.

pedarla srinivas

• Sep 12th, 2006

 

about bank reconsilation

Neha agarwal

• Sep 16th, 2006

 

  Bank reconcilation statement is made for check the banks accounts which is seems to be wrong and cross check it.

N.UMA

• Sep 25th, 2006

 

tally debit and credit as per brs

OMIDIJI OLUWAFEMI DAVID

• Oct 6th, 2006

 

Please I want to receive lecture on this topic in accounting:-

 Bank reconcilation statement

 trial balance

 cash book

 and others

durgasankar

• Nov 5th, 2006

 

                a statement which shows the difference between cash book and pass book.

bineyam

• Nov 6th, 2006

 

i want to understand bank reconcilation and give me one example

Ramu

• Nov 10th, 2006

 

Example for BRS:

If we issues a cheque, immediately we credit it to the book maintained by us i.e., Cash book. If that particular cheque has been sent for clearance immediately, the banker will charge it to our account maintained by the Bank, i.e., Bank book. If it is so, there wont be any difference between cash book (ours) and Bank book (Banker's). But if that cheque has not presented for payment, obviously difference occurs between these 2 books. In that situation as a part of periodical report generation, or making sure that all the bank transactions are properly entered in our cash book, we have to reconcile the cash book with bank book.

In the above case, that particular amount has to deducted from our cash book in order to make it equalled with bank book. It will be again added when ever the cheque is presented for payment.

Cash booK                         

Balance : 50,000

Rekha

• Nov 28th, 2006

 

Eg.., for a Bank reconcillation statment is where u got a cash u updated in a cash book not in pass book it'll affect ur cash book balance n pass book balance.

One more is wrong entries in pass book n in cash book this is also one of the example for BRS.

ANU

• Dec 1st, 2006

 

Reconciling? the? companies bank accounts with the? banker's? statement

syed zain abbas rizvi

• Feb 24th, 2007

 

the bank re-concilation statement refers to basically checking of ur accounts..
 bank re-concilation statement includes:
1.cheque book

vugrnam_mahesh

• Mar 8th, 2007

 

Meaning of "  Bank Reconciliation Statement:

The "Bank column of Cash Book" amt  and  Bank Column of the "Pass Book amt " will tally because some reasons then we
have  to    reconcile (Tally)  both the books.  In Accounting we are using the "B R S" for the purpose of reconcile both the books.
      A. Cash
Books    :  It is maintaining by the "Person/Firm/Company/others)  In this
we enter all expenses and receipts.
      B. Pass
book        :  It is  maintaining by the Bankers.  What ever we
are  paying the expenses or any other payment or receipt will happen through chqs then the banker will enter the details (Payment /  Receipt ) their books called "Passbook".

Why (Reasons )
Difference will occur both the books :
I have already mentioned there will
difference  will occur  the  Cash book and Pass book   because of
for  the following reasons.
(I) Timing Difference
(II) Difference arising due to
errors in recording the entries.

(I) Timing Difference :
        1. We have deposited chq in to the bank but not yet cleared.
                In this case...  Before depositing the chq we have entered our cash book
               
as  receipt but in passbook it will not happen at the same time after
                3-4 days it will happen. Before that
Cash book shows Higher balance
                but
as  passbook  balance  still  not happened.  i.e.

               
Cash book shows ---- High receipt balance 
                Pass book
shows  --- Lower balance.

2. If we  issued chq for payment to others
but  customer will not present the chq.
In this both books balance will differ because of......
When we issued the chqs first we will enter in our
cash book as payment, now cash book balance will decrease but customer not yet present the chq same
day  he will present when ever he need so in  pass book there is no 
payment  happened. i.e

              Cash
book  Balance  :  Decrease
               Pass book
Balance  :  Increase

3. We  are contracting with our banker some payment they will pay directly without intimation to us. like.. telephone
charges.  bank interest, and other payments.
In this case..... We
don't  know when bank will  paid our expenses until  unless
receivng  the bank statement so that after paying the expenses immediately our pass book balance will
decrease  but we are not entering  in cash book as payment in same day.. so balances will differ..

                  Cash Book balance --- Higher balance
                  Pass
book  balance --- Decrease
     
4. And some
other  Timing difference...

(II) Difference arising due to
errors in recording the entries:

In the II case also Cash book and pass book will
differs  because of the following reasons.

        1. Errors of
omission : we  forget to enter the transaction in our books.   
        2. Errors of Commission : By the mistakenly we will credit
instead of debit and like that reasons.
        3. Principle
Errors    : We  missed Accounting principles.

To
over  come the above reasons  we will prepare Bank Reconciliation Statement

teja.mak

 Profile Answers by teja.mak 

• May 20th, 2008

 

• In the banking scenrio the account and mirror account having the opposite sign
• The process matching real account and mirror accounting is called Reconciliation.
• This reconciliation to that of a bank then it is called as Bank's Reconciliation.

so, the statement is called Bank Reconcillation Statment.


teja
temenosindia

snmudhol

 Profile Answers by snmudhol 

• Jun 5th, 2008

 

This is a statement prepared to resolve or settle or reconsile the difference between the Bank Pass Book and Bank account in ledger book. 

The reason of difference is Cheques deposited but not yet cleared by bank, Cheques issued to the vendor but not yet presented in bank for payment, Cash or Cheques deposited by clients directly to the bank, bank charges debited by bank but not yet record in our books,...

niranjan sharma

• Sep 14th, 2011

 

bank reconciliation statement is a statement and record of cash book and pass book of the entry and deposit and receive and payment of the cash.

if we receive cash from other person and deposit in the bank but if bank not transaction money on your account then it will differ from your passbook.

if you payment to employer salary from check and mention in passbook but bank not mention in cash book it will differ from your passbook and cash book . this difference is called bank reconciliation and we made a account with match the amount with cash and passbook is called bank reconciliation statement.

manjunath.Jadhav

• Sep 14th, 2011

 

Bank reconciliation statement is a statement prepared at the end of the every month. To Explain or know the difference between cash book and pass book.

bhagya

• Sep 21st, 2011

 

BRS is statement prepared at the end of the every month or so to explain the causes difference between the balances of pass book and bank column of the cash book

Joseph Dayondon

• Sep 26th, 2011

 

BRS is a statement prepared by the company matching the bank ending balance as stated per bank statement to the companies ending book balance. Normally, BRS is prepared monthly after the bank has sent bank statements to the companies. It is important in the company to monitor BRS to simply balance the companies record to the bank record and vice versa.

If the records are imbalance there should be an error or unrecorded items maybe in the part of the company or in the bank. In that case, we have to focus on the what we call reconciling items which are, outstanding checks, checks that are marked NSF, bank charges, deposits in transits, interest income and others. These items should be adjusted by the company's book if using book to bank method of reconciliation or by the bank if using bank to book method.

Karthik

• Apr 8th, 2014

 

it is a justification statement prepared by an accountant to justify the differences between bank balance and cash t accounts of the firm

MUNIKRISHNAPPA K

• Oct 30th, 2014

 

BRS is a statement prepared by the company. The main purpose of preparing BRS to know the exact fund or bank balance as on the date.

Hemavathi

• Dec 11th, 2014

 

BRS is statement which is prepared by the company at the end of the month,the purpose of preparing BRS is to know the difference between the bank balance and the cash account of the firm.

Rahul Dhar

• Dec 17th, 2014

 

Bank reconciliation statement is a report which compares the bank balance as per company accounting records with the balance stated in the bank statement.

rajesh

• Jun 28th, 2017

 

It is a statement which shows difference between passbook and cashbook

favas pakkada

• Jul 7th, 2017

 

A bank reconciliation statement is a summary of banking and business activity that reconciles an entitys bank account with its financial records. The statement outlines the deposits, withdrawals, and other activity impacting a bank account for a specific period