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Bank Reconciliation Statement
What is a Bank Reconciliation Statement (BRS)?
Schedule explaining gaps between Cash Book and Pass Book balances by listing reconciling items.
Is BRS preparation statutorily compulsory?
No, not legally mandatory, but essential internal control practice in well-run organisations.
Why does Cash Book balance differ from Pass Book on a given date?
Timing differences, direct bank entries, errors, and dishonoured cheques create gaps.
What happens when a cheque is issued but not yet presented?
Cash Book credited immediately; Pass Book debited later at presentation. Pass Book balance temporarily higher.
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