Accounts Receivable (AR) Interview Question:

Explain what is brs?

Submitted by: Administrator

BRS - Bank Reconciliation Statement


A bank reconciliation statement is a statement prepared by organizations to reconcile the balance of cash at bank in a company's own records with the bank statement on a particular date.


The differences may arise because of the following reasons:

► Cheques deposited into bank but not yet collected by bank

► Cheques issued by the organization but not yet presented for payment

► Cheques directly deposited by customers into the bank

► Bank charges debited by bank

► Interest credited or some receipts directly collected by bank based on org. request.

► Some payments directly made by bank based on the organizations request.


So, the statement shows the reasons as what are the reasons for difference in balance.
Submitted by: Administrator