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What is meant by BRS?

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Question added by varadharajan ranagaswamy , Manager - Accounts , M/s.Interfit India Limited
Date Posted: 2013/07/30

BRS = Bank Reconciliation Statement that is a form that allows individuals to compare their personal bank account records to the bank's records of the individual's account balance in order to uncover any possible discrepancies.
BRS = مذكرة تسوية البنوك و هى بيان مقارن بين المسجل فى كشوف حساب البنك من وجهة نظر البنك مقابل ما تم تسجيله بدفاتر المنظمة ...
لاكتشاف و توضيح سبب اى اختلاف ان وجد تبدء برصيد البنك فى الدفاتر و يضاف اليه و يخصم منه الفروق المكتشفة حتى نصل لرصيد البنك الفعلى فى كشوف الحساب و بالتالى يكون توضيحا للفرق و سببه و من ثم معالجته

Muhammad Waqas
by Muhammad Waqas , Accountant , Rafiq & Sons

BRS stands for Banki Reconciliation statement.

A bank reconciliation statement is the method used by individuals and entities to check the accuracy of their own transaction register against the records of their bank. The use of your transaction register, or checkbook register, is the primary source for recording the receipt and disbursement of cash through your bank account, while your monthly bank statement represents the corresponding books of the bank. Both sets of books must be reconciled and balanced with each other in order to detect outstanding items.

Muhammad Arshad Kadhar
by Muhammad Arshad Kadhar , Head of Internal Audit (Sr. Manager) , National Testing Service Pakistan

BRS stands for Bank Reconciliation Statement, This statement is prepare to reconcile the Balance as per Bank Statement and Balance as per Cash Book which is maintained by the Accounts Department of the Organization.
The main reasons for differences are1) Un-Presented Cheques,2) Un-Credited Cheques,3) Debits Made by the Bank and4) Credits Given by the Bank.
There is a set pattern and techniques for preparing the Bank Reconciliation Statement.

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