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why BRS is used
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Answer / sujata
BRS stands for Bank Reconcilliation Statement.It is a
statement wherein we reconcile the Cash Book(Bank bal) with
the Bank Statement.Ideally Bank Statement should match with
the Cash Book but there can be some differences due to
timing e.g. when we receive a cheque we immediately post it
in the cash book as debit but in ur bank statement it does
not reflected till it is actually cleared so it is obvious
that there would be some differences or fraud ..This is an
important tool for internal Control.
| Is This Answer Correct ? | 8 Yes | 0 No |
Answer / amit kumar
To tally the Accounting Books with the Bank Statement for
which there could not be any descripancy. If arises than
could be alert to the bankers as well as company's
management so that they could take the decision.
| Is This Answer Correct ? | 7 Yes | 2 No |
Answer / ammu
Bank Reconcillation Statement. It means that to check the
particular cheque or cash was cleared from the bank
account.BRS is able to done with the help of bank passbook
| Is This Answer Correct ? | 2 Yes | 0 No |
Answer / prabhakar
BRS stands for Bank reconciliation statement that reconciles the bank balance in the books of an organization with the bank statement.BRS is usually performed weekly or monthly and are a form of internal control check.The main reason for the difference is no party informs the other whenever a transaction occurs.and also there may be mistakes in the cash book or bank statement and this may give rise to a difference between the two balances.
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / raghu r
BRS Stands for Bank reconciliation Statement. it is a
relationship between bank pass book and cash book
| Is This Answer Correct ? | 0 Yes | 2 No |
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