Bank Reconciliation Statement-Meaning
“Bank Reconciliation Statement – is the statement which reconciles the bank balance as per the cash book with the balance as per the bank pass book, by showing all causes of differences between the two”.
Causes of disagreement between the balances of cash book and pass book.
- Timingdifference on the recording of transactions.
- Errorin Cash Book.
- Errorin Pass Book.
Difference between trade Discount and Cash Discount
Format of Bank Reconciliation Statement when the Bank Balance as per Cash Book
The format of Bank Reconciliation Statement when the Bank
Balance as per Passbook