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why BRS is used

Answer Posted / 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.

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