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Bank reconciliation statement
Accountancy
Sir how to identify the entries that which one come in adjusted cash book and which comes to bank reconciliation statement Please answer fast
Answers (13)
Best Answer
Those mistakes done by the bank are part of reconciliation. While all those errors commited by our books as same that of rectification of errors like omissions, wrong posting will be part of reconciliation. Even those cheques Clearance having timing difference shall be considered as part of reconciliation. Solve more problems and gradually you will be able to decode the adjustments. Even you solve Nov 2020 BRS problem. It is quite difficult
Thread Starter
Nai JayIn short error which had done by bank comes to the reconciliation and others come to cash book sweta am I right ?
It always need not be an error from the bank side. Sometime the customer may have a dispute with bank on some charges levied. Such entries are also not posted in cash book. To summarise - What the customer agrees - will be posted in cash book. Rest items will be a part of final BRS.
Thread Starter
Nai JayIn short error which had done by bank comes to the reconciliation and others come to cash book sweta am I right ?
Noâ?¦ Sorry I hadnâ??t noticed your query For better understanding of BRS solve many sum it gives you more clarityâ?¦.
CA Suraj Lakhotia Admin
It always need not be an error from the bank side. Sometime the customer may have a dispute with bank on some charges levied. Such entries are also not posted in cash book. To summarise - What the customer agrees - will be posted in cash book. Rest items will be a part of final BRS.
Sorry sir but can you explain "what the customer will agrees" which you said
Swetha S
Noâ?¦ Sorry I hadnâ??t noticed your query For better understanding of BRS solve many sum it gives you more clarityâ?¦.
Okay that's better idea What I do I go through all illustration and check out
Thread Starter
Nai JaySorry sir but can you explain "what the customer will agrees" which you said
Say bank debited charges on your account and you agree to the charges. You will record this in your cash book. But say you do not agree with the charges, then you will not record.
Thread Starter
Nai JayOkay that's better idea What I do I go through all illustration and check out
You can do gadbadwala illustration then Illustration 5 and do practical problems at last. It would give a lot of practice
Sugam SM
Sir then it is banker mistake right?
Sometimes its bank mistake. And sometimes its a dispute.
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