what do you mean by Bank reconcilation statement
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Answer Posted / viswanath
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.
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