Answer Posted / phani kumar

A bank reconciliation statement is prepared to reconcile the balances and explains the difference on a particular date, generally at the end of a period.some of the characteristics of the BRS as follows

1. The BRS has been prepared on a particular date, preferably at the end of the month.
2. The BRS is prepared essentially to as certain the reasons for disagreement of bank balances shown by cash book and pass book.
3. this statement has been prepared by the customer only. but not by the bank in any case.
4. this may be prepared to examine the mistakes committed in the passbook.
5. The BRS is prepared to find out exact bank balance.

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