vinayak c. chavan (CPT passed) (1011 Points)
06 November 2011How can i imporove my Bank reconcilation statement skills? I want to improve in BRS area from point of view of getting job? I doesn't have experience of BRS in Practical (at job levels).
CA,CMA,CS Karan Gogia
(Employed)
(230 Points)
Replied 06 November 2011
BRS is a quite simple thing in acedemics as well as in pratice..
u just have to clear ur concepts for that....
for practice wt you can do is to make BRS for your personal account your family account ...weekly....
or the best would be , if in ur family or in known any body has bussiness, ....prepare his BRS weekly....
or take out some practice book
or take out book for class +1 or +2....plenty of options....
yes if u have prob in understanding concept of BRS ....mail me at cakarangogia @ yahoo.com......i will call u personaly......i live in dubai so it wud cost u international call if u do...i will do...no issues..
VENUGOPALAKRISHNAN P K
(ACCOUNTS OFFICER)
(33 Points)
Replied 26 February 2012
Dear Mr.Vinayak
Now with MICRO SOFT EXCEL it is an easy matter. Even in ERP it is done by daily updation. For you
to understand the basic please follow the below steps:.
1. Take a summary of bank book - 1) Total Deposit 2) Total cheques issued 3) Total Bank charges accounted etc.. Basically the bifurcation depends on the way you need it.
2. Take summary of Passbook ----under the same head as above
3. If there is opening balance add the same with the( 1) above under each head and reduce the same from various heads as (2) above
The balance is the actual difference or outstandings.
You need to compare the items in head (1) with items in head (2) to find out the outstandings. This can be done by using the VLOOKUP option in EXCEL
This is just to give an idea. But all depends on the accounts system and when you started doing it more easy ways to find do the same.
Balance as per Bank Book : xxxxxxx
Less: Deposits not cleared by bank
Bank charges
others
Total (A) xxxxxxxx
Add: Cheques issued but not presented
Deposit not accounted in bank book
others
Total (B) xxxxxxxxx
Closing Balance as per Pass Book
(A -B) XXXXXXX - THIS WILL TALLY WITH BANK PASSBOOK
All the very best
CAclubindia
