Bank Reconciliation Statement in short BRS, is an explanation of the difference between bank balance as per cash book and bank balance as per Passbook(Bank statement). Sometimes, The bank balance as per cash book and passbook do not tally with each other, then we can know the difference between them by preparing the bank reconciliation statement.
The bank reconciliation statement is the process of checking the differences between a bank column of the cash book and the bank statement or passbook. We have to check all the transaction recorded in the cash book with transactions recorded in passbook by our bank. This statement is attached to the financial statement for the financial year of enterprises.
Chapter No. 12 – Bank Reconciliation Statement – T.S. Grewal 11 Class – Book Solution
T.S. Grewal’s Double Entry Book Keeping