Learn the definition of bank reconciliation statement and how to prepare it. Depending on the volume and value of bank transactions, the reconciliation activities are carried out daily, weekly, fortnightly etc.
A BRS helps in devising target reasons and amounts with which a passbook and cash book might not tally. A firm or a company which has the habit of preparing regular Bank Reconciliation Statement finds itself in a better financial position. Let us see what abank reconciliationis an...