Maharashtra Board Class 11 Book Keeping and Accountancy Chapter 6 Bank Reconciliation Statement PDF Download

Bank Reconciliation Statement

Contents

6.1 Meaning, Definition and Utilities of Accounting Documents

6.2 Meaning, Definition, Need and Importance of Bank Reconciliation Statement

6.3 Reasons for difference between Cash Book balance and Pass Book balance

6.4 Specimen of Bank Reconciliation Statement

6.5 Preparation of Bank Reconciliation Statement

Competency Statements

Students can prepare specimen of different Bank Documents.

Students will understand the difference between Cash Book and Pass Book.

Students will know the reasons behind the differences in Cash Book balance and Pass Book balance.

Students can prepare Bank Reconciliation Statement competently.

6.1. Meaning, Importance and Utilities of Accounting Documents

Introduction

Accounting Documents describes all the basic facts of transactions like the amount of transaction, to whom the amount was paid, the purpose of transaction and the date of transaction. This is essential in the process of Book Keeping as it provides evidence that a financial transaction has actually taken place. There has been a drastic change in the functioning of modern banks. Internet and mobile banking play a prominent role in today's business. Payments and receipts of cash through these methods generates instant and automatic proof for both the parties.

But even now a large number of transactions are made by personally visiting the bank. Payments and receipts by cheques and drafts have not lost their significance altogether.

Types of Bank Documents

1. Pay-in-slip

Meaning: Pay-in-slip is also known as deposit slip. This slip is filled when the account holder deposits cheque or cash into his bank account. When cash is deposited account holder gives his account number, date of deposit and details of cash deposited. Similarly, when a cheque is deposited details of cheque, account number, name of drawee bank, amount etc are filled.

Teacher's Note

Pay-in-slip is a document given by the bank when you deposit cash or cheque. It is like a receipt from the bank. For example, when you go to your bank to deposit money from selling your bicycle, you fill the pay-in-slip with your account number and the amount.

Exam Trick

Remember: Pay-in-slip has two parts. Right side stays with the bank. Left side (counterfoil) comes back to you as proof. This is like getting a receipt when you buy something from a shop.

Points to Remember

Pay-in-slip is used for depositing money or cheques in the bank account.
The slip has two parts - one for the bank and one for the account holder (counterfoil).
It shows the date, amount, and account number of the person depositing money.
The counterfoil serves as legal proof of the deposit.
Pay-in-slip can be used for both cash and cheque deposits.

This is a preview of the first 3 pages. To get the complete book, click below.