What is BRS (Bank Reconciliation Statement)?
A bank reconciliation statement is a document that compares the cash balance in a company's accounting records to the corresponding amount on the bank statement. The statement is used to identify and reconcile any differences between the two records, such as outstanding checks, deposits in transit, or bank fees. The purpose of a bank reconciliation is to ensure that the cash balance in the company's records is accurate and that all transactions have been recorded properly.