Why profit making organization dont prepare

For Other than Non Profit organisations have main source of income will be operating income . So truce picture reflects in Profit & Loss account . PL and receipts and payments will be almost same.

But non profit organisations get government grants and specific funds which may appear in liability till they are utilised. So Receipts and Payments is relevant for non profit organisations.

Profit organisations main source of income will be operating income . So truce picture reflects in Profit & Loss account . PL and receipts and payments will be almost same. 

 

So Receipts & Payments is not required.

But you can generate it from accounting software if required