Tuesday, October 18, 2011

Bank Reconciliation Statement.

What is Bank Reconciliation Statement?
At any point of time the cash book and the passbook should show the same balance. But there will be a difference due to certain reasons. In order to tally the balance as per the cash book with that of the passbook, a statement called as “Bank Reconciliation Statement” is prepared. This statement reconciles the difference between the balance as per cash book and passbook.

Accountingguru has now added the new feature of preparing Bank Reconciliation Statements (BRS) in the system which is also less time consuming.

Once the payments are made or received, BRS can be prepared at any given point of time in the system. To do this, click the option “Banking”. The following screen appears.

Here ,type the “From date” and “To date”  and click on reconcile to get a list of payments made The following screen will appear wherein if a particular payment is cleared, we need to update the clearance date and mark as reconciled.
Then click on Reports option and again click on banking reports. Here we get the reconciliation statement.