Receipt and payments related

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mahesh (Querist)
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28 February 2013 will the following entry affect receipt and payment?
Audit fees A/c ...Dr 10000
To Audit fess Payable A/c 10000
is it recorded in Receipt & payment?

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)
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28 February 2013 By the above entry no effect of receipt or payment because of at their either debited or credit cash or bank so receipts and payments account not effected by the above entry. Just you created the liability to pay of audit fee but not paid. receipts and payments considers all the receipts and payments during the period of such R&P preparing but not considers payables or receivables So it doesn't effect.

OM SAI SRI SAI JAI JAI SAI

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