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  • What is BRS ?

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    • Member Since Jun-2008 | 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.



    • 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