can you give Idea on brs I forget
Dear Student
Balance as per cash book and as per pass book should always match , But ,There are various entries which are at a time entered in Cash book but not in Pass book or entered in Pass book but not in cash book . So to find out the causes of this differences BRS is prepared ,
In other words ,
Bank reconciliation statement is a statement prepared by the account holder on a particular date to reconcile the bank balance as per cash book with the balance as per bank statement or bank pass book, showing entries causing differences between the two balances.
For detailed explanation, refer to our study material. It will help you understand the concept in a better way. Refer the path given below:
Select the subject (Accountancy) -> Study Material --> Chapter-5 Bank Reconciliation Statement --> Lesson-1 Meaning and need of Bank Reconciliation Statement
Regards
Balance as per cash book and as per pass book should always match , But ,There are various entries which are at a time entered in Cash book but not in Pass book or entered in Pass book but not in cash book . So to find out the causes of this differences BRS is prepared ,
In other words ,
Bank reconciliation statement is a statement prepared by the account holder on a particular date to reconcile the bank balance as per cash book with the balance as per bank statement or bank pass book, showing entries causing differences between the two balances.
For detailed explanation, refer to our study material. It will help you understand the concept in a better way. Refer the path given below:
Select the subject (Accountancy) -> Study Material --> Chapter-5 Bank Reconciliation Statement --> Lesson-1 Meaning and need of Bank Reconciliation Statement
Regards