23 May 2010
there is difference in banks pass book and bank column cash book .it is rectified by BRS, BUT which balance is posted to balancesheet and why?pass book balance or bank column cash book balance?
23 May 2010
Agreed. Bank column Cash Book Balance is shown , since that is the balance that we are showing in our books. For the difference, we are preparing BRS and that is an additional reconciling statement like debtors reconciliation, creditors reconciliation and like.
24 May 2010
Bank Balance as per our books will move to Balance sheet. BRS is prepared only to ensure that there is no unknown discrepancy in the two balances. Auditors require the same to verify whether our book balance is true & fair
26 May 2010
agreed with experts. Bank column Cash Book Balance is shown because we follow accrual basic accounting and entry in pass book is on actual basic
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