Who Prepare Brs Statement?

The accountant typically prepares the bank reconciliation statement using all transactions through the previous day, as transactions may still be occurring on the actual statement date. All deposits and withdrawals posted to an account must be used to prepare a reconciliation statement.

Is BRS prepared by bank?

BRS is prepared on a periodical basis for checking that bank related transactions are recorded properly in the cash book's bank column and also by the bank in their books. BRS helps to detect errors in recording transactions and determining the exact bank balance as on a specified date.

How is reconciliation statement prepared?

The process of preparing a bank reconciliation involves making adjustments to the balances in both the bank statement and the company's records to confirm that the ending balances match and that every item is properly accounted for.