Accounts Receivables

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Accounts Receivables | Question 38 of 46

BRS

what is brs

Total Answers and Comments: 3

Last Update: December 03, 2008 Asked by: akki.jagani

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Submitted by: Sweete

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

Above answer was rated as good by the following members:
vijayavel, tharik_409, msrinivasulufico, vinayinfo9, sindhusegaran

June 20, 2008 04:34:11

Sweete

Member Since: June 2008 Contribution: 7

RE: BRS

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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Overall Rating: +5

June 20, 2008 04:44:01

mmanivannanca

Member Since: June 2008 Contribution: 1

RE: BRS

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

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December 03, 2008 04:23:51

jani basha

Member Since: December 2008 Contribution: 2

RE: BRS

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.

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