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State the need for the preparation of ba...

State the need for the preparation of bank reconciliation statement?

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Need for Preparation of BRS A Bank Reconciliation Statement is required and is vital owing to the subsequent reasons:

It helps in knowing the particular Bank balance. It helps in discouraging the employees from stealing. Helps in distinctive the rationale for variations within the money Book and also the Pass Book.

It helps in distinctive any undue delay within the clearance of cheques.

Helps in detective work and preventing frauds and errors in recording the Banking transactions.

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