banner_ad

receipts and payments account

A/c entries 5548 views 9 replies

how 2 prepare receipts and payments account?

is there any thumb rules to prepare ?

is R&P contains non cash items and payables ?

pls suggest me

Replies (9)

write down the cash items recd on recpt. side and the patments on pyt side.opening bal. of cash should be provided and the result will be clsg. cash bal.

the receipts and payments a/c is just like a cash book. what u do in case of cash book just do the same in recipts and payments account. it does not contain any non cash transactions. it is prepared on cash basis....

Yes sudipta is right. Closing balance of Receipt & Payment account must tally with cash in hand.

 

good clarification

reciept n payment account is basically cash account as it is prepared on the basis of cash system of accounting. Debit side of this account is called receipt side where as credit side is called payment side. All types of cash transactions whether of capital or revenue nature are recorded in this account.

It is well

R&P is as simple as a cash book. sudipto is right

It is exactly like cash book.v have to dr. it with all cash receipts & cr. it with all cash payments.it is just that the name differs not the logic.....

 hello,

in the receipts side of the account write down all receipts whether it is revenue or capital receipt

In the payments side also same rule applicable

notional paymants and receipts dont effect the receipts and payments account

It is nothing but cash book 


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
24 May 2026
Accounts & Tax Executive

PARAS KHURANA AND CO

New Delhi

B.Com

View Details
Company
01 June 2026
Audit, Taxation & Compliance Executive

R P S K & Associates

Nashik

CA Inter

View Details
Company
ARTICLESHIP 15 May 2026
ARTICLE ASSISTANT, TRAINEE AND PAID ASSISTANT

YOGESH KAPOOR AND ASSOCIATES

New Delhi

B.Com

View Details
Company
19 May 2026
Article, CA & Paid Assistant Positions

Aggarwal Sarawagi and Co

New Delhi

CA

View Details
Company
09 May 2026
Audit Manager

Kanna and Associates

Coimbatore

CA Inter

View Details
Company
ARTICLESHIP 14 May 2026
CA ARTICLE

PRAVEEN GARG & CO

Faridabad

CA Foundation

View Details
Company
23 May 2026
Article Assistant

Geeta Manchanda & CO.

New Delhi

CA Inter

View Details
Company
14 May 2026
Financial Analyst - Remote Finance Expert

HiringBridge

Ahmedabad

CA

View Details