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Concept of Bank Reconciliation Statement

sachin xavier (11 Points)

24 December 2019

Could you please explain the concept of addition or substraction of items in BRS?

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12 Replies

Krishna (Manager - Genesis Tax Consultant) (531 Points)
Replied 25 December 2019

Add Cheque Issued and Less Cheque deposited makes the Bank book to match with the Bank statement

Umesh Sharma Sir (9 Points)
Replied 27 December 2019

If you start with balance as per cash book then any inflow of money in bank statement should be added & outflow of money in bank statement should be deducted. eg direct collection by bank should be added & direct payment by bank should be deducted. chq issued but not appearing in bank statement should be added because money is yet not paid. cheque deposit yet not cleared in bank statement should be deducted because money yet not recd. in short receipts in bank statement add & payments from bank statement less. but remember transaction appearing in both the bks will not appear in bank reco

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sabyasachi mukherjee (25988 Points)
Replied 01 January 2020

Its better to consult a book....

Kapadia Pravin (17249 Points)
Replied 01 January 2020

Please ask specific queries over here. instead of general topic

RAJA P M ("Do the Right Thing...!!!") (127072 Points)
Replied 01 January 2020

Yes... I agreed to Mr Krishna.,

@ Mr Sachin.,

BRS will help for issuing cheques & Considering the bank's day to day balance with our commitments based on Fund...

Kapadia Pravin (17249 Points)
Replied 01 January 2020

Mr. Sachin
Keep parallel pass book (which is available in stationery shop)

All the time you are ready with exact bank balance. Later you match book entries with bank statement.

This will help in your BRS work too.

The above is solution for business accounts.

But for acedamic point of view about the BRS concept, you have to refer materials available at various sources.

You may contact any member through personal inbox Forum messaging for a detailed guidance. But please excuse me.

sabyasachi mukherjee (25988 Points)
Replied 01 January 2020

@ kapadia
this is not an exhaustive one,
however may be a outline.
overdraft situation are a bit specific.

@ sachin pls get hold of some good book.
study a little.
no one can explain this so easily...
take care ..

1 Like

RAJA P M ("Do the Right Thing...!!!") (127072 Points)
Replied 01 January 2020

At first being Iyyo Iyyo paavam

RAJA P M ("Do the Right Thing...!!!") (127072 Points)
Replied 01 January 2020

@ Sabyasachi Ji., Sry wrngly replied 👌👌👌👌👌👌

sabyasachi mukherjee (25988 Points)
Replied 01 January 2020

Before giving any reply ..
keep your backup...
no backup...

RAJA P M ("Do the Right Thing...!!!") (127072 Points)
Replied 01 January 2020

@ Mr Sabyasachi Bro... I'm respectful to You and Your replies and... Don't be trying advice to me right...... It's just great eye closing and after some replies then open that.....