Accounts Receivable Clerk Question: Download Accounts Receivable Clerk PDF
What Is Brs?
Answer:
BRS - Bank Reconciliation Statement
A bank reconciliation statement is a statement prepared by organizations to reconcile the balance of cash at bank in a company's own records with the bank statement on a particular date.
The differences may arise because of the following reasons:
☛ Cheques deposited into bank but not yet collected by bank
☛ Cheques issued by the organization but not yet presented for payment
☛ Cheques directly deposited by customers into the bank
☛ Bank charges debited by bank
☛ Interest credited or some receipts directly collected by bank based on org. request.
☛ Some payments directly made by bank based on the organizations request.
☛ So, the statement shows the reasons as what are the reasons for difference in balance.
A bank reconciliation statement is a statement prepared by organizations to reconcile the balance of cash at bank in a company's own records with the bank statement on a particular date.
The differences may arise because of the following reasons:
☛ Cheques deposited into bank but not yet collected by bank
☛ Cheques issued by the organization but not yet presented for payment
☛ Cheques directly deposited by customers into the bank
☛ Bank charges debited by bank
☛ Interest credited or some receipts directly collected by bank based on org. request.
☛ Some payments directly made by bank based on the organizations request.
☛ So, the statement shows the reasons as what are the reasons for difference in balance.
| Previous Question | Next Question |
| Explain me what is your personal method for keeping organized? | What Is Customer Master Record? |