Bank reconciliatin statement query

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ravi jain (Querist)
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23 May 2010 there is difference in banks pass book and bank column cash book .it is rectified by BRS, BUT which balance is posted to balancesheet and why?pass book balance or bank column cash book balance?

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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23 May 2010 BANK COLUMN CASH BOOK BALANCE IS SHOWN IN BALANCE SHEET.

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Rahul Gupta

Rahul Gupta (Expert)
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23 May 2010 Agreed. Bank column Cash Book Balance is shown , since that is the balance that we are showing in our books.
For the difference, we are preparing BRS and that is an additional reconciling statement like debtors reconciliation, creditors reconciliation and like.

CA Pradeep Kumar Rajput

CA Pradeep Kumar Rajput (Expert)
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23 May 2010 the bank balace which are in our books.....

CA.Pujah

CA.Pujah (Expert)
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24 May 2010 Bank Balance as per our books will move to Balance sheet. BRS is prepared only to ensure that there is no unknown discrepancy in the two balances. Auditors require the same to verify whether our book balance is true & fair

CS Richa Sharma

CS Richa Sharma (Expert)
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24 May 2010 Agree with Sanjay Sir.

CMA Arif Farooqui

CMA Arif Farooqui (Expert)
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26 May 2010 agreed with experts.
Bank column Cash Book Balance is shown because we follow accrual basic accounting and entry in pass book is on actual basic

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