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How receipt and payment account is created

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1359 Points Joined October 2021
how receipt and payment account is created is there any journal entries for it ??
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On 02 May 2022 at 23:56 Report
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Profession Business
28196 Points Joined May 2017
Receipt and payment account is purely on cash basis.
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On 03 May 2022 at 06:36
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CFO- at NHTF
58280 Points Joined August 2012
Journal entries will not be there R & P a/c

It is based on Payment and receipt entries which are effected through bank & cash
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On 03 May 2022 at 08:36
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1359 Points Joined October 2021
Mean also there will be no ledger posting of receipt and payment account in another a/c
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On 03 May 2022 at 12:57
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CFO- at NHTF
58280 Points Joined August 2012
Payments and receipts related all ledgers can be seen in Receipts and Payments Account
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On 04 May 2022 at 08:45

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