How receipt and payment account is created

how receipt and payment account is created is there any journal entries for it ??
Replies (4)
Quick Summary
A Receipt and Payment Account operates purely on a cash basis, meaning it records actual cash received and paid out. Consequently, there are no direct journal entries made to create this account. Instead, it's populated by the payment and receipt entries that affect your bank and cash accounts. All related ledger information can be found within the Receipts and Payments Account itself.

Receipt and payment account is purely on cash basis.
Journal entries will not be there R & P a/c

It is based on Payment and receipt entries which are effected through bank & cash
Mean also there will be no ledger posting of receipt and payment account in another a/c
Payments and receipts related all ledgers can be seen in Receipts and Payments Account

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
26 September 2026
Chartered Accountant

pushpganga ventures

Pune

CA

View Details
Company
20 September 2026
Semi Qualified CA

Navin & Associates

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 16 September 2026
Article Assistant

MANUJ SHARMA AND COMPANY

Noida

CA Inter

View Details
Company
16 September 2026
Internal Audit - Team Lead

Consulting & Beyond

Chennai

CA

View Details
Company
ARTICLESHIP 15 September 2026
Freelance Taxation Content Writer Intern

Interactive Media Pvt Ltd.

New Delhi

CA Inter

View Details
Company
Featured 03 October 2026
Accountant

A P Lodha and Associates

Jalna

B.Com

View Details
Company
19 September 2026
Finance Manager

Mugdha Art Studio

Hyderabad

CA

View Details
Company
08 October 2026
SALES TELECALLER

HIRE NOVA

Lucknow

Graduate (Any)

View Details