lhello
could u tell me about bank reconciliation statements.and how to prepare
thank u
27 Replies
Mukesh
(Self employed)
(71 Points)
Replied 30 January 2008
i feel that u have to go to basic accounting book and there u find Bank reco. It is easily digestable from there and there only.
kaushal
(w)
(545 Points)
Replied 30 January 2008
BRS is prepared daily weekly monthly yearly depending on number if transaction and requirements
check entry passed in bank book with entries in bank statements given by bank .
entries which are
1 not in bank book but there in bank statement (like interest charges , commission etc.) requires entries to be passed in bank book
2 not in bank statements bt there in bank book will stand as reconciliation entry on which payment is yet to be received or cheque is not yet deposited for clearing
M.Sriram Shenoy
(CA Final)
(814 Points)
Replied 30 January 2008
Bank reconciliation statement exhibits the difference between Cash at bank, as per our books and bank books.
When cheques are issued by us, effect is given immediately in our books by crediting the respective bank account. But, it takes some time for the bank to clear the cheques and until such time, bank account shows higher balance to the extent of uncleared cheques. So BRS is prepared to reconcile the difference and tally both the books.
For preparation of BRS, the origin point can either be balance as per our books or balance as per bank books and adjustments to be made with respect to the origin point of the account.
pushpendra
(Director- FinMAT Consultants)
(1703 Points)
Replied 30 January 2008
Best way to prepare Bank Reconciliation Statement is :
From which Balance You start is Object Balance and the balance at which you want to reach is target Balance
Now Just remember only One formula :
Check any transaction and see the effect on the target balance if due to that transaction target balance increase then Add in the object Balance and if target balance decrease then Less from the object balance.
You will get the right answer
If still feel any problem then feel free to call me at my cell no. 09414072365
Pushpendra
Pushpendra2 @ yahoo.com
CA Dushyant Maharishi
(CA)
(178 Points)
Replied 03 March 2008
BRS is nothing but the diffrence between the cash book and pass book. Hence it is very easy to find out the diffrence by finding of cheques to be deposited entry and issued cheques for further information u have to prefer reference book.
O.D.SHARMA
(DGM-F & A)
(1734 Points)
Replied 10 March 2008
This is basically Diff.between company bank Book Balance & Bank passbook balance.u have to make sure thatBank charges, Cheque deposited but not cleared& Cheque issued but not presented are accounted and tallied with is called
BRS
bhuvana
(Accounts)
(150 Points)
Replied 01 August 2008
Jinish ji, venkat ji & vimal ji.......attaching a self explanatory XL file as BRS example .....if u find a prob in understanding, pls leave a note
Attached File : 17 brs example.xls downloaded: 450 times
(Guest)
| Originally posted by :Guest | ||
| " | please send me the BRS format with the examples Originally posted by :Guest " please send BRS format,How to prepare the BRS with example. " |
" |
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