Interested to Buy Any Domain ? << Click Here >> for more details...
what do you mean by Bank reconcilation statement
- 29 Answers
- 59438 Views
- Accenture, BPO, Citi Bank, CitiGroup, DOC, Fullerton, Global Talent Track, Northern Trust, SGI, State Bank Of India SBI, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / parvathy.k
Bank Reconcilation statement means comparing with company
bank book with bank statements, whether any other bank
charges, deposited cheques are realised, payment to payee
cheques are debited correctly or any other entries passed by
bankers like interest, penalty charges etc,.cross check with
bank statements to correct our company bank book and to
confirm the balance.
| Is This Answer Correct ? | 160 Yes | 6 No |
Answer / nimish bhatia
many a times the balance as per the cash book n that ar per
the bank book doesnt match becoz of the reasons like time
taken to clear a cheque etc... in order to concile the
balances between the 2 statements, a statement called brs
is prepared... it ensures that no wrong entry is passed in
either of the two books...
| Is This Answer Correct ? | 107 Yes | 14 No |
It is a reconciliation statement which explains the
differences betweeen closing balances of Bank Statement
(Pass Book) and Cash Book on a particular date or end of
the month.
BRS is a control tool where accountant find out not only
the differences but also have the following uses:
1. To avoid duplication of entries.
2. To know the un accounted income or expenditure.
| Is This Answer Correct ? | 39 Yes | 8 No |
Answer / suman baba
it is a statement prepared by an accountant to reconsil the
cash book and pass book.
it is the analysis of reasons for disageement of cash book
and pass book.
| Is This Answer Correct ? | 38 Yes | 16 No |
Answer / narendra
Bank reconciliation - It is a statement prepared by the
Accountant at the end of the month to disclose the causes
between Cash book & Bank book.
| Is This Answer Correct ? | 28 Yes | 6 No |
Answer / kuldeep srivastava
Bank reconcilation statement is a statement which reconcile
the balancing and the date of cash book and pass
book,that's called BRS.
| Is This Answer Correct ? | 23 Yes | 3 No |
Answer / spsiva.mba.
Bank Reconciliation Statement can be defined as a statement
which reconciles the balance as per cash book and the
balance as per pass book showing the causes of difference
between the two.
| Is This Answer Correct ? | 21 Yes | 3 No |
Answer / mahesh babu
Babk reconciliation is a one accounting statement.whenever
we will take one particular period at that time as per pass
book balances and cash book balances should not tally
because some reason is there.
1.we issued some cheques but not presented for payment.
2.we deposited some cheques in bank but not credited.
3.Bank charges
4.Bank interest and etc.
| Is This Answer Correct ? | 20 Yes | 2 No |
Answer / satyendra yadav
Bank recocilition statement is a statement which reconcile
balancing of cash book or pass book.
| Is This Answer Correct ? | 21 Yes | 6 No |
Answer / onkar sule
A bank reconciliation statement is a statement prepared by
a customer to explain the causes responsible for the
disagreement with the bank balance as shown by the cash
book and the bank balance shown by the pass book as on a
particular date. Many a times the balance as per the cash
book n that as per the bank book does not match because of
the reasons like time taken to clear a cheque etc. In order
to concile the balance between the two statements, a
statement called Bank reconciliation statement is prepared.
It ensures that no wrong entry is passed in either of the
two books. In other words a form that allows individual to
compare their personal bank account records to the bank
records of the individual account balance in order to
uncover any possible discrepancies.
| Is This Answer Correct ? | 15 Yes | 3 No |
What would happen to a company’s stock if it announced a large loss due to a write down on goodwill?
EXPAND______________OBC
cash transferred from sbi to andhra bank? how we can post it in tally? (i.e.at the place of Account what we have to post) (at the place of particulars what we have to post)
If I am forget to deposit TDS of An Party than what's the procedure to rectify it, Please mention in detail?
what is method of deperciation?
What are the Goddwill calculation Methods?
why net profit will be added to the balance sheet? is there any reason?
What is the purpose of a bank reconciliation statement?
What is the treatment for PRELIMINARY EXPENSES?
27 Answers Capital IQ, Franklin Templeton,
what is the process to return sales tax file?how can i prepared s.t. file?what should be qualification for it?
Sales for ABC Company were Rs.150,000 for 2003.The beginning inventory was 30% of the cost of goods sold.The ending inventory was 50% of the beginning invetory.Selling expenses were 10% of sales and absorbed 30% sales.Income taxes were 30% of net income before taxes.
Proposed Divided is not shown as current liabilities
Audit 
