0
discrepancies appear when there is the outstanding on the bank and any mistakes made to company or on the bank
Wiki User
∙ 11y ago
Add your answer:
Earn +20 pts
What does the abbreviation gi mean on lloyds bank statement?
it stands for General Insurance
What does abbreviation MAE on HSBC bank statement stand for?
Maestro card transaction
Meaning of b r s?
brs means banking reconciliation statement is comparing company bank account and banker account amount is equal . when some time company bank account amout and bank account amount not equal.they are three reasons ; a. cheque issued but not presented in bank b.cheque recived custmoer but not clear
Is statement is a noun?
Yes, the word statement is a noun, a singular, common noun; a word for a thing. The noun statement is an abstract noun for an official account of facts; in law, a formal pleading. The noun statement is a concrete noun for definite or clear expression of something in speech or writing; a monthly report sent to a debtor or bank depositor; a commercial or financial account showing an amount due; a bill.
What is the difference between transaction risk and economic risk?
Transaction is bank risk
What is a bank reconciliation statement?
A bank reconciliation statement is a form that allows individuals to compare their personal bank account records with the bank's records of the individual's account balance in order to uncover any possible discrepancies. Since there are timing discrepancies between when data is entered in the bank's systems and when data is entered in the individual's system, there is sometimes a normal discrepancy between account balances. The goal of reconciliation is to determine whether the discrepancy is due to an error rather than timing.
What does exactly bank reconciliation statement mean?
it means that it show the difference between the cash book and bank statement
What is the difference between a bank statement and a statement of account?
Hello, A bank statement is a listing from the bank of the deposits to and withdrawals from a depositor's bank account. A statement of account is actually a billing statement - a documents that asks the person/ company to whom a statement of account is addressed to pay the amount stated in the said document. Tessjavier from the Philippines
What options do you have if your work has under paid you?
Take your payslip - and bank account statement to your works finance officer (or department). Show them the discrepancy, and they should pay you what's owed within a few days.
The process of analyzing the different between the bank statement balance and the checkbook balance is?
Bank reconciliation
What is the importance of a bank reconciliation statement?
In order to see the difference between a bank balance and cash book,and see whether cheques or deposit made all appear in the bank statement
What is the importance of bank reconciliation statement?
In order to see the difference between a bank balance and cash book,and see whether cheques or deposit made all appear in the bank statement
How can inside trading with banks affect financial statements?
inside trading between banks can affect bank statements becuase if the money is from a difffrent bank you would have to go to the bank to get a statement from that bank instead of where you got the original statement. the only way of not having to do this is by getting a bank statement from the "owner" bank of the money.
What are the advantages of bank reconciliation statement?
BRS is done to know the difference between Bank book and Cash book...to find any error occured in statement..
What is the process of analyzing the differences between the bank statement balance and the checkbook balance is?
The process is bank reconciliation.
Why is a bank reconciliation statement prepared?
Bank Reconciliation is prepared to know differences between bank book and passbook, when we do the bank reconsilation will get mainly four differences 1. cheques deposited in bank account but not cleared 2. cheques issued to client's but not clear 3. cheques deposited in bank account but not updated in bank book 4. cheques debited in bank account but not updated in bank books.
What is explanation of the potential causes for a discrepancy between the balance of the Cash in Bank account and a checkbook?
Deposits may be in transit or checks written may not have cleared the account
