Interested to Buy Any Domain ? << Click Here >> for more details...
What is bank reconciliation statement?
- 15 Answers
- 21184 Views
- Capital IQ, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / 24akshaya@gmail.com
This is a statement explaining any difference between bank
book balance kept by the business and the bank statement
issued by the banker.
| Is This Answer Correct ? | 41 Yes | 6 No |
Answer / g k renjit
Bank Reconciliation statement is a statement prepared by a
customer of a bank showing the cause of disagreement between
the balance as per his cash book and pass book as on a
particular date.It is prepared to bring the cash book
balance in agreement with the balance as per pass book.
| Is This Answer Correct ? | 21 Yes | 3 No |
Answer / debasish pattnaik
Bank reconcilation statement is a statement which is
prepared by the business man to findout the error between
cashbook & passbook
| Is This Answer Correct ? | 14 Yes | 0 No |
Answer / md.azarath pasha
Bank Reconciliation statement is a statement prepared by a
customer of a bank showing the cause of disagreement between
the balance as per his cash book and pass book as on a
particular date.It is prepared to bring the cash book
balance in agreement with the balance as per pass book
| Is This Answer Correct ? | 7 Yes | 1 No |
From time to time the balance shown by the bank and cash
column of the cash book required to be checked. The balance
shown by the cash column of the cash book must agree with
amount of cash in hand on that date. Thus reconciliation of
the cash column is simple matter. If it does not agree it
means that either some cash transactions have been omitted
from the cash book or an amount of cash has been stolen or
lost. The reason for the difference is ascertained and cash
book can be corrected. So for as bank balance is concerned,
its reconciliation is not so simple. The balance shown by
the bank column of the cash book should always agree with
the balance shown by the bank statement, because the bank
statement is a copy of the customer's account in the banks
ledger. But the bank balance as shown by the cash book and
bank balance as shown by the bank statement seldom agree.
Periodically, therefore, a statement is prepared called
bank reconciliation statement
| Is This Answer Correct ? | 6 Yes | 0 No |
Answer / sri
Generally when a business man opens an account with a bank
he records the transactions with the bank in a book
maintained called 'Cash Book'. Similarly the bank too
maintains a book called 'Pass book' where all the entries
with that particular account are recorded from time to time.
In practice the balance shown in the cash book and pass book
are not always the same. For this companies generally
prepare a statement called 'BANK RECONCILIATION STATEMENT'
where the differences in pass book and cash book are
reconciled. This is generally done at the end of every month
. The companies should maintain accurate records of its
transactions.
| Is This Answer Correct ? | 3 Yes | 1 No |
Answer / karuna kandi
BRS is the process of comparing the amounts in the Cash
account in the general ledger to the amounts appearing on
the bank statement. The objective is to be certain that
there is consistency between the amounts and that the
company's amounts are accurate and complete.
| Is This Answer Correct ? | 3 Yes | 2 No |
Answer / pawan
Bank Reconciliation Statement is a statement which explain
the reasons of differences between closing Balance of Bank
Statement and Bank Book (Books of Account)on particular date.
| Is This Answer Correct ? | 3 Yes | 2 No |
Answer / guest
brs is a statement where it adjusted the differance
between cash book and pass book balances
| Is This Answer Correct ? | 2 Yes | 1 No |
Bank Reconcilation Statement is prepared to know the
reasons of difference between the balances of Bank Book and
Bank Statement in a particular date.
| Is This Answer Correct ? | 1 Yes | 0 No |
What are the functions of a General Ledger? What accounts are usually maintained in it and from what subsidiary books are they derived?
if we have taken Mobile phone for employees use ,can we taken as assests for the company ? then what is the deprecation rate ?
Tell me where do generally accruals appear on the balance sheet?
What is the Difference Between Tally Software & SAP Software..?
14 Answers GTS, SSK, TATA,
We have purchased some good from our vendor and we asked them to transport the same to some address but they have raised a debit note to us for transportation instead of invoice. Same like we have given some order to manufacture for developing that product they have charged some amount for that also they have raised the debit note. How to account these type of debit notes in tally..?
What is the difference between Issue & Sell / sale?
how&when brs is prepared
define accounting?
Tell me what happens to company's “cash account” if it borrows money from the bank by signing a note payable?
HI FRNDS THIS IS NARESH I DONE MBA (FINANCE)IN 2011. AND I DID COMPLETE SAP FICO.I WANT TO DO START CAREER WITH SAP FICO PLZ TELL ME PLZ HAVE ANY INTERVIEW AS FRESHER IN HYD OR PLZ SEND THIS MAIL...NAINALA.NARESH@GMAIL.COM
0 Answers IBM, Kumaran Systems,
Describe the proof of cash type of bank reconciliation?
Cash bill of sale so the company can deduct the amount.
Audit 
