ACCOUNTS
This query is : Resolved
24 October 2010
Sir,
Can i know how a BRS statement is prepared in normal cases & over draft also
please help
Can i know how a BRS statement is prepared in normal cases & over draft also
please help
24 October 2010
Bank Reconciliation procedure
This is a very simple procedure. There are only 4 steps to be followed for preparing the bank reconciliation. Bank reconciliation is done where there is a difference in balance as per your books of accounts with the balance as per the bank statement. In short it is reconciliation between two balances.
You may start as follows :
1. Start ticking the debit entries in your books with the credit entries in bank book (as you are aware that the debit in your book is the credit in the bank statement).
2. After completing the ticking of all the debit entries in your book, start ticking the credit entries in your book with the debit entries in the pass Statement).
Now you are left with unticked entries, both debit and credit entries in your books and in bank statement. That shows these entries do not reflect in the one of these two account.
Now preparation of BRS STATEMENT.
BALANCE AS PER YOUR BOOK (closing balance)
Add : AMT CREDITED BY BANK NOT ACCOUNTED BY U.
(total of unticked credit amount in bank statement)
ADD : CHEQUES ISSUED BY YOU NOT PRESENTED.
(total of unticked credit entry in your books)
LESS : CHEQUES DEPOSITED NOT CLEARED IN BANK
(total of unticked debits in your books)
LESS : AMT DEBITED BY BANK NOT ACCOUNTED BY YOU
(total of unticked debit entries in bank statement)
The balancing figure will be the BALANCE AS PER BANK STATEMENT
Hope the above is clear to you.
Regards
This is a very simple procedure. There are only 4 steps to be followed for preparing the bank reconciliation. Bank reconciliation is done where there is a difference in balance as per your books of accounts with the balance as per the bank statement. In short it is reconciliation between two balances.
You may start as follows :
1. Start ticking the debit entries in your books with the credit entries in bank book (as you are aware that the debit in your book is the credit in the bank statement).
2. After completing the ticking of all the debit entries in your book, start ticking the credit entries in your book with the debit entries in the pass Statement).
Now you are left with unticked entries, both debit and credit entries in your books and in bank statement. That shows these entries do not reflect in the one of these two account.
Now preparation of BRS STATEMENT.
BALANCE AS PER YOUR BOOK (closing balance)
Add : AMT CREDITED BY BANK NOT ACCOUNTED BY U.
(total of unticked credit amount in bank statement)
ADD : CHEQUES ISSUED BY YOU NOT PRESENTED.
(total of unticked credit entry in your books)
LESS : CHEQUES DEPOSITED NOT CLEARED IN BANK
(total of unticked debits in your books)
LESS : AMT DEBITED BY BANK NOT ACCOUNTED BY YOU
(total of unticked debit entries in bank statement)
The balancing figure will be the BALANCE AS PER BANK STATEMENT
Hope the above is clear to you.
Regards
24 October 2010
https://www.caclubindia.com/share_files/files_display_search_results.asp?search_txt=brs&x=0&y=0
You can also download BRS formats in excel from above link.
You can also download BRS formats in excel from above link.
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