Bank reconcillation
This query is : Resolved
06 November 2012
Q. Rs. 10,000 paid to X on 15.02.2012 and entry was passed immediately in the cash book but cheque was presented in the bank on 12.03.2012? What will be the treatment of above entry while preparing BRS?
CA VIKASH AGARWAL
(Expert)
06 November 2012
cheque issued but not presented for payment in bank
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06 November 2012
1. You need to add back such amount, if you consider BOOK BALANCE for changes and reach to Bank Balance...
2. Similarily, if you are making changes to BANK BALANCE, you need to deduct such amount from it..
Generally, first practice is followed, i.e., making changes to your book balance for reconciling the same with bank balance...
2. Similarily, if you are making changes to BANK BALANCE, you need to deduct such amount from it..
Generally, first practice is followed, i.e., making changes to your book balance for reconciling the same with bank balance...
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06 November 2012
Then whether I have to make any adjustment in march or not
CA Prashant Gupta
(Expert)
06 November 2012
There will not any adjustment in march reco. because this has been effected your book in Feb and bank in march. so no adjustment in March. only last month entry will be removed.
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