Definitions [2]
Definition : Bank Reconciliation Statement (BRS)
A Bank Reconciliation Statement is an accounting statement prepared to compare the balance shown in a company’s cash book with the balance shown in the bank statement, listing and explaining any differences, so records are accurate and complete.
Definition : Time Difference
Time difference means that some transactions show up in the cash book before they appear in the passbook, or vice versa, because the bank and the account holder record them at different times.
