Scribd Logo
Upload

Welcome to Scribd!

  • 58 views

    Bank Reconciliation Statement Bank Reconciliation Statement: Learn Anything Anywhere Call: +91-8800999280

    Uploaded by

    Umar Zahid
    Takshila Learning provides online learning resources and can be contacted at their website http://www.takshilalearning.com or by phone at +91-8800999280. A bank reconciliation statement (BRS) reconciles the differences between a business's bank balance according to their cash book and the bank balance according to their bank statement. The BRS identifies errors or discrepancies between the two records to determine the actual bank balance. Reasons for differences may include timing of transactions or errors in recording transactions in the cash book.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd

    Bank Reconciliation Statement Bank Reconciliation Statement: Learn Anything Anywhere Call: +91-8800999280

    Uploaded by

    Umar Zahid
    58 views9 pages
    Takshila Learning provides online learning resources and can be contacted at their website http://www.takshilalearning.com or by phone at +91-8800999280. A bank reconciliation statement (BRS) reconciles the differences between a business's bank balance according to their cash book and the bank balance according to their bank statement. The BRS identifies errors or discrepancies between the two records to determine the actual bank balance. Reasons for differences may include timing of transactions or errors in recording transactions in the cash book.

    Original Title

    Bank-Reconciliation-State.8493357.powerpoint

    Copyright

    © © All Rights Reserved

    Available Formats

    PPTX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Takshila Learning provides online learning resources and can be contacted at their website http://www.takshilalearning.com or by phone at +91-8800999280. A bank reconciliation statement (BRS) reconciles the differences between a business's bank balance according to their cash book and the bank balance according to their bank statement. The BRS identifies errors or discrepancies between the two records to determine the actual bank balance. Reasons for differences may include timing of transactions or errors in recording transactions in the cash book.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    58 views9 pages

    Bank Reconciliation Statement Bank Reconciliation Statement: Learn Anything Anywhere Call: +91-8800999280

    Uploaded by

    Umar Zahid
    Takshila Learning provides online learning resources and can be contacted at their website http://www.takshilalearning.com or by phone at +91-8800999280. A bank reconciliation statement (BRS) reconciles the differences between a business's bank balance according to their cash book and the bank balance according to their bank statement. The BRS identifies errors or discrepancies between the two records to determine the actual bank balance. Reasons for differences may include timing of transactions or errors in recording transactions in the cash book.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 9

    Takshila Learning

    Learn anything anywhere


    Visit: http://www.takshilalearning.com
    Call: +91-8800999280

    BANK RECONCILIATION
    STATEMENT
    Meaning & Concept

    Statement prepared by the Business entity,

    Reconciling/Matching the bank balance as per


    the cash book(Bank Column) & the Pass
    book.

    find out the differences between the balances &


    nullify them

    BRS is prepared by the business entity


    Cash V/s Pass Book

    The Cash Book is prepared by the business


    entity

    Pass book/Bank Statement is prepared by the


    bank to have a record of the customer’s
    banking transactions.
    BRS

     BRS IS NOT THE PART OF THE ACCOUNTING


    PROCESS/FINANCIAL STATEMENTS.

     IT IS PREPARED AT A PARTICULAR DATE AS A


    PART OF CASH BOOK

     NOT MANDATORY TO BE PREPARED,


    VOLUNTARY FOR MATCHING THE BALANCES
    OF BOTH BOOKS
    Importance

    Bring out errors in Cash book/Pass book

    Detection of Undue delay by the bank

    Discourages any manipulation by Accountant

    Finding out actual position of bank balance


    Reasons of Differences

    Timing differences : Differences due to


    different treatments in Cash & Pass book.
    (on different dates)

     Other differences : Difference due to errors in


    Cash book.
    Examples of Timing Differences

    Cheque deposited but not cleared

    Cheque issued but not presented for payment

    Bank Charges/Interest debited/credited in


    bank account.

    Direct payment/receipt by bank


    Other Differences

     Transaction not recorded/twice recorded in


    cash book.

     Any other clerical mistake( wrong amount,


    wrong casting, etc) in cash book.
    Interesting, right?
    This is just a sneak preview of the full presentation. We hope you like it!
    To see the rest of it, just click here to view it in full on PowerShow.com.
    Then, if you’d like, you can also log in to PowerShow.com to download
    the entire presentation for free.

    You might also like