Question
Explain what is brs?
Answers
BRS - Bank Reconciliation Statement

A bank reconciliation statement is a statement prepared by organizations to reconcile the balance of cash at bank in a company's own records with the bank statement on a particular date.

The differences may arise because of the following reasons:

. Cheques deposited into bank but not yet collected by bank
. Cheques issued by the organization but not yet presented for payment
. Cheques directly deposited by customers into the bank
. Bank charges debited by bank
. Interest credited or some receipts directly collected by bank based on org. request.
. Some payments directly made by bank based on the organizations request.

So, the statement shows the reasons as what are the reasons for difference in balance.   Your Comment




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