BRS

1. Cheques issued but not yet presented for payment.

2. Cheques paid into the bank but not yet collected.

3. Direct debit made by the bank on behalf of the customer.

4. Amount directly deposited in the bank account.

5. Interest and dividends collected by the bank.

6. Direct payments made by the bank on behalf of customers.

7. Cheques deposited/ bills discounted dishonored.

8. Errors committed in recording transactions by the organization.

9. Errors committed in recording transaction by the bank.

PERFORMA OF BANK RECONCILIATION STATEMENT

To prepare a bank reconciliation statement, the bank balance as per the cash book and the bank statement as on a particular day are required along with details of both the books. If the two balances differ, the entries in both the books are compared and the items on accounts has which the difference has arisen are ascertained with the respective amount involved so that the bank reconciliation statement can be prepared.

The following Table explains this.

 

Credit Card: Nowadays sales through Credit Cards are a very common feature. Credit Cards are issued by different banks like Citi Bank, Standard Chartered Bank, State Bank of India, Canara Bank, and others Presently available most popular Credit Cards are - Visa Card, Master Card, American Express Card, and others.


Debit Card: A Debit Card is similar in appearance to a Credit Card and is offered in a similar way in payment for goods and services.


The Main difference is that in the case of a Debit Card such payment is debited to the holders Bank account is exactly the same way as a cheque.


Stop payment Order: Sometimes cheques are lost or stolen. The account holder of the lost or stolen cheque should issue a payment order to the bank stating the details of the cheque (e.g. cheque no., date, amount, etc). After issuing the stop payment order, the original entry should be cancelled by reversing the entry.