How receipt and payment account is created
Atharv Sankliya (1354 Points)
02 May 2022
how receipt and payment account is created is there any journal entries for it ??
4 Replies
sabyasachi mukherjee
(27574 Points)
Replied 03 May 2022
Receipt and payment account is purely on cash basis.
Eswar Reddy S
(CFO- at NHTF)
(58270 Points)
Replied 03 May 2022
Journal entries will not be there R & P a/c
It is based on Payment and receipt entries which are effected through bank & cash
It is based on Payment and receipt entries which are effected through bank & cash
Atharv Sankliya
(1354 Points)
Replied 03 May 2022
Mean also there will be no ledger posting of receipt and payment account in another a/c
Eswar Reddy S
(CFO- at NHTF)
(58270 Points)
Replied 04 May 2022
Payments and receipts related all ledgers can be seen in Receipts and Payments Account
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