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Bank reconciliation
Accountancy
If I'm having difference in bank balance as per books and balance as per bank statement then what figure I will consider on 31st March closing..? And what will I show in my books on 31st mar ? Can anyone help me with this??
Answers (6)
Sowmiya N
If you have like that in question you can take any of those balances and solve it.
Not about solving..what should I take on 31st March in my books..as per bank statement or balance that I got which may differ due to cheques issued but not cleared..what to be considered??
We will adjust our books of accounts as per the BRS . So, when the bank balance is reported in the balance sheet it is the reconciled one taken from the adjusted cash book. So basically prepare BRS then adjust books of accounts(cashbook) and then take that balance to balance sheet .
Thread Starter
vasabattula abhinavIf I have issued cheques whats there to do with cash book..I simply reduce my bank balance and on 31st mar what should I take..can u explain this??
You always take bank balance as per books in the financial statements (as the date of balance sheet) But before doing that prepare BRS and check if any entries need to be passed in books of account like bank charges charged by bank not accounted, cheques directly deposited not accounted, interest credited on deposits by bank directly not accounted, etc After making such entries then take the new bank balance as per books of account
