{"id":1748,"date":"2019-07-22T14:14:10","date_gmt":"2019-07-22T14:14:10","guid":{"rendered":"https:\/\/commerceiets.com\/?p=1748"},"modified":"2019-07-22T14:14:10","modified_gmt":"2019-07-22T14:14:10","slug":"receipt-and-payment-account-pdf","status":"publish","type":"post","link":"https:\/\/commerceiets.com\/receipt-and-payment-account-pdf\/","title":{"rendered":"RECEIPT AND PAYMENT ACCOUNT PDF"},"content":{"rendered":"\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/commerceiets.com\/receipt-and-payment-account-pdf\/#RECEIPTS_AND_PAYMENTS_ACCOUNT\" title=\"RECEIPTS AND PAYMENTS ACCOUNT\">RECEIPTS AND PAYMENTS ACCOUNT<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/commerceiets.com\/receipt-and-payment-account-pdf\/#FEATURES_OF_RECEIPTS_AND_PAYMENTS_ACCOUNT\" title=\"FEATURES OF RECEIPTS AND PAYMENTS\nACCOUNT\">FEATURES OF RECEIPTS AND PAYMENTS\nACCOUNT<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/commerceiets.com\/receipt-and-payment-account-pdf\/#NATURE_OF_ACCOUNT\" title=\"NATURE OF ACCOUNT\">NATURE OF ACCOUNT<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/commerceiets.com\/receipt-and-payment-account-pdf\/#BASIS_OF_PREPARATION\" title=\"BASIS OF PREPARATION\">BASIS OF PREPARATION<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/commerceiets.com\/receipt-and-payment-account-pdf\/#CAPITAL_AND_REVENUE_ITEMS\" title=\"CAPITAL AND REVENUE ITEMS\">CAPITAL AND REVENUE ITEMS<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/commerceiets.com\/receipt-and-payment-account-pdf\/#OPENING_AND_CLOSING_BALANCES\" title=\"OPENING AND CLOSING BALANCES\">OPENING AND CLOSING BALANCES<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/commerceiets.com\/receipt-and-payment-account-pdf\/#PERIOD_TO_WHICH_ITEM_BELONGS\" title=\"PERIOD TO WHICH ITEM BELONGS\">PERIOD TO WHICH ITEM BELONGS<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/commerceiets.com\/receipt-and-payment-account-pdf\/#ADJUSTMENTS\" title=\"ADJUSTMENTS\">ADJUSTMENTS<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/commerceiets.com\/receipt-and-payment-account-pdf\/#PURPOSE\" title=\"PURPOSE\">PURPOSE<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/commerceiets.com\/receipt-and-payment-account-pdf\/#DOES_NOT_RECORD_NON-CASH_EXPENSES\" title=\"DOES NOT RECORD NON-CASH EXPENSES\">DOES NOT RECORD NON-CASH EXPENSES<\/a><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/commerceiets.com\/receipt-and-payment-account-pdf\/#LIMITATIONS_OF_RECEIPTS_AND_PAYMENTS_ACCOUNT\" title=\"LIMITATIONS OF RECEIPTS AND\nPAYMENTS ACCOUNT\">LIMITATIONS OF RECEIPTS AND\nPAYMENTS ACCOUNT<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/commerceiets.com\/receipt-and-payment-account-pdf\/#FORMAT_OF_RECEIPT_AND_PAYMENT_ACCOUNT\" title=\"FORMAT OF RECEIPT AND PAYMENT\nACCOUNT\">FORMAT OF RECEIPT AND PAYMENT\nACCOUNT<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/commerceiets.com\/receipt-and-payment-account-pdf\/#RECEIPT_AND_PAYMENT_ACCOUNT_PDF\" title=\"RECEIPT AND PAYMENT ACCOUNT PDF\">RECEIPT AND PAYMENT ACCOUNT PDF<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"RECEIPTS_AND_PAYMENTS_ACCOUNT\"><\/span>RECEIPTS AND PAYMENTS ACCOUNT<span class=\"ez-toc-section-end\"><\/span><\/h1>\n\n\n\n<p class=\"has-medium-font-size\">Receipts and Payments Account records all the cash receipts and cash payments of <a href=\"https:\/\/commerceiets.com\/non-profit-organisation\/\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"non-profit organisations (opens in a new tab)\">non-profit organisations<\/a>. It is a real account. It is prepared at the end of the year and records all the transactions whether it belongs to current, future or past years. All the capital and revenue nature items are posted into it. This accounts starts with opening balance of cash and bank and ends with the closing balance of the same.<\/p>\n\n\n\n<p class=\"has-luminous-vivid-amber-background-color has-background has-medium-font-size\"><strong>ACCORDING TO WILLIAM PICKLES<\/strong><\/p>\n\n\n\n<p class=\"has-medium-font-size\">\u201cReceipts and Payments Account is\nnothing more than a summary of the Cash Book over a certain period analyzed and\nclassified under suitable headings. It is the form of account most commonly\nadopted by treasurers of societies, clubs, associations etc., when preparing\nthe results of the year\u2019s working.\u201d&nbsp; <\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"FEATURES_OF_RECEIPTS_AND_PAYMENTS_ACCOUNT\"><\/span>FEATURES OF RECEIPTS AND PAYMENTS\nACCOUNT<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"NATURE_OF_ACCOUNT\"><\/span>NATURE OF ACCOUNT<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p class=\"has-medium-font-size\">It is real account. The items\nrecorded in this account are both of capital and revenue nature. The rule\nfollowed while posting the items is:<\/p>\n\n\n\n<p><strong>DEBIT WHAT COMES IN, CREDIT WHAT GOES OUT<\/strong><\/p>\n\n\n\n<p class=\"has-medium-font-size\">As a result, receipts are recorded\non Debit side and payments are recorded on Credit side.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"BASIS_OF_PREPARATION\"><\/span><strong>BASIS OF PREPARATION<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p class=\"has-medium-font-size\">The receipts and payments account\nis maintained on cash basis. The transactions are recorded when there is cash\npaid or cash received for the same.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"CAPITAL_AND_REVENUE_ITEMS\"><\/span>CAPITAL AND REVENUE ITEMS<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p class=\"has-medium-font-size\">This account records both capital\nand revenue items. The capital receipt as well as revenue receipt is shown at\ndebit side of the account. The capital payment as well as revenue payment is\nshown at the credit side of this account.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"OPENING_AND_CLOSING_BALANCES\"><\/span>OPENING AND CLOSING BALANCES<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p class=\"has-medium-font-size\">The opening and closing balance of\nthe receipts and payments account show the cash in hand or cash at bank of the\naccounting period.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"PERIOD_TO_WHICH_ITEM_BELONGS\"><\/span>PERIOD TO WHICH ITEM BELONGS<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p class=\"has-medium-font-size\">Receipt and Payment Account\nrecords the entire amount paid or received in cash whether it is related to\ncurrent, past or future year.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"ADJUSTMENTS\"><\/span>ADJUSTMENTS<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p class=\"has-medium-font-size\">Receipt and Payment Account\nrecords no adjustment related to Accrued Income, Outstanding Expenses, Prepaid\nExpenses and pre-received incomes.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"PURPOSE\"><\/span>PURPOSE<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p class=\"has-medium-font-size\">The purpose of preparing this\naccount is to know about the cash position of the non- profit organisation. It\ndoes not tell about whether current incomes exceed the current expenditures or\nnot. It merely shows the closing balance of cash in hand and cash at bank at\nthe end of accounting period.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"DOES_NOT_RECORD_NON-CASH_EXPENSES\"><\/span>DOES NOT RECORD NON-CASH EXPENSES<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p class=\"has-medium-font-size\">Receipt and Payment account records\nonly cash items. It does not record non \u2013cash expenses like depreciation.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"LIMITATIONS_OF_RECEIPTS_AND_PAYMENTS_ACCOUNT\"><\/span>LIMITATIONS OF RECEIPTS AND\nPAYMENTS ACCOUNT<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"has-medium-font-size\"><strong>DOES NOT SHOW ITEMS ON ACCRUAL BASIS:<\/strong> The receipt and payment account does not show items on accrual basis. It records the items on cash basis i.e. only those items are recorded for which the cash is received or paid.<\/p>\n\n\n\n<p class=\"has-medium-font-size\"><strong>DOES NOT SHOW SURPLUS OR DEFICIT:<\/strong> The receipt and payment account does not record any adjustment regarding accrued income, outstanding expenses, prepaid expense, income received in advance. Thus it does not show the surplus or deficit of the year. Rather, it shows the opening and closing balance of cash in hand.<\/p>\n\n\n\n<p class=\"has-medium-font-size\"><strong>DO NOT DIFFERENTIATE BETWEEN CAPITAL AND REVENUE ITEMS:<\/strong> The receipt and payment account do not differentiate between capital and revenue items. It records all the assets, liabilities, income and expenditure under single account.<\/p>\n\n\n\n<p class=\"has-medium-font-size\"><strong>DO NOT DEPICT ACCURATE CURRENT YEAR DATA:<\/strong> The items recorded in the receipt and payment account may belong to the past or future year. In this way, it does not depict the true transactions related to current year only. <\/p>\n\n\n\n<p class=\"has-medium-font-size\"><strong>DOES NOT RECORD NON-CASH EXPENSES: <\/strong>Receipt and Payment account records only cash items. It does not record non \u2013cash expenses like depreciation which must be provided for to show the real value of assets.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"FORMAT_OF_RECEIPT_AND_PAYMENT_ACCOUNT\"><\/span>FORMAT OF RECEIPT AND PAYMENT\nACCOUNT<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><strong>DR.         RECEIPTS AND PAYMENTS ACCOUNT for the year ended\u2026&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;     CR.<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td>   <strong>RECEIPTS   <\/strong><\/td><td>\n  \u20b9\n  <\/td><td>   <strong>PAYMENTS   <\/strong><\/td><td>\n  \u20b9\n  <\/td><\/tr><tr><td>To balance b\/d <br \/>(Opening Balance)   &nbsp;&nbsp;&nbsp;&nbsp; <br \/>Cash in   Hand   &nbsp;&nbsp;&nbsp;&nbsp; <br \/>Cash at   Bank   <br \/>To Subscriptions:   &nbsp;&nbsp;&nbsp;&nbsp; <br \/>For   Previous year   &nbsp;&nbsp;&nbsp;&nbsp; <br \/>For   Current year   &nbsp;&nbsp;&nbsp;&nbsp; <br \/>For Next   year   <br \/>To General Donations   <br \/>To Entrance\/ Admission fees   <br \/>To General Grants   <br \/>To Sale of old newspapers, grass   <br \/>To Dividends   <br \/>To Rent Received   <br \/>To Interest Received   <br \/>To Miscellaneous Receipts   <br \/>To Legacies   <br \/>To Endowment Fund   <br \/>To Sale of Fixed Assets, etc.   <br \/>To Balance c\/d <br \/>(Bank Overdraft)*   <\/td><td>\n  &nbsp;\n  <\/td><td>By Balance b\/d <br \/>(Closing Balance)   &nbsp;&nbsp;&nbsp;&nbsp; <br \/>Cash in   Hand   &nbsp;&nbsp;&nbsp;&nbsp; <br \/>Cash at   Bank   <br \/>By Salaries   <br \/>By Rent   <br \/>By Postage Expenses   <br \/>By Advertisement Expenses   <br \/>By Repairs   <br \/>By&nbsp; Audit   Fees   <br \/>By Maintenance Fees   <br \/>By Municipal Tax   <br \/>By Office Expenses   <br \/>By Expenses on show   <br \/>By Miscellaneous Payments   <br \/>By Loan (repayment)   <br \/>By Books   <br \/>By Insurance   <br \/>By Balance c\/d <br \/>(Closing Balance)   &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br \/>Cash in   Hand   &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br \/>Cash at   Bank*   <\/td><td>\n  &nbsp;\n  <\/td><\/tr><tr><td>\n  &nbsp;\n  <\/td><td>\n  &nbsp;\n  <\/td><td>\n  &nbsp;\n  <\/td><td>\n  &nbsp;\n  <\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"RECEIPT_AND_PAYMENT_ACCOUNT_PDF\"><\/span>RECEIPT AND PAYMENT ACCOUNT PDF<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The RECEIPT AND PAYMENT ACCOUNT PDF is as follows:<\/p>\n\n\n\n<div class=\"wp-block-file\"><a href=\"https:\/\/commerceiets.com\/wp-content\/uploads\/2019\/07\/RECEIPTS-AND-PAYMENTS-ACCOUNT.pdf\">RECEIPTS-AND-PAYMENTS-ACCOUNT<\/a><a href=\"https:\/\/commerceiets.com\/wp-content\/uploads\/2019\/07\/RECEIPTS-AND-PAYMENTS-ACCOUNT.pdf\" class=\"wp-block-file__button\" download>Download<\/a><\/div>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td><strong>Also Study<\/strong><\/td><td><strong>Also Study<\/strong><\/td><td><strong>Also Study<\/strong><\/td><td><strong>Also Study<\/strong><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/accounting\/\"><strong>Accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/non-profit-organisation\/\"><strong>Non profit organisation<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/depreciation\/\"><strong>Depreciation<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/liquidity-ratios-types\/\"><strong>Liquidity ratios<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/nature-of-accounting\/\"><strong>Nature of Accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/receipt-and-payment-account-pdf\/\"><strong>Receipts and Payments Account<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/depreciation-accounting\/\"><strong>Depreciation Accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/acid-test-ratio-formula\/\"><strong>Acid Test Ratio<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/benefits-of-accounting\/\"><strong>Benefits of Accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/scope-of-accounting\/\"><strong>Scope of accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/hire-purchase-accounting-notes-pdf\/\"><strong>Hire Purchase Accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/cash-ratio\/\"><strong>Cash Ratio<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/difference-between-cost-accounting-and-financial-accounting\/\"><strong>Difference between cost accounting and financial accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/difference-between-financial-accounting-management-accounting-and-cost-accounting\/\"><strong>Financial accounting, cost accounting and management accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/difference-between-hire-purchase-and-instalment\/\"><strong>Difference between hire purchase and instalment system<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/financial-ratio-analysis\/\"><strong>Financial ratio analysis<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/difference-between-transaction-and-event\/\"><strong>Difference between transaction and event<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/transactions\/\"><strong>Transactions<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/users-of-accounting\/\"><strong>Users of Accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/current-ratio-formula\/\"><strong>Ratio analysis<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/limitations-of-accounting-2\/\"><strong>Limitation of Accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/capital-expenditure\/\"><strong>Capital Expenditure<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/instalment-system\/\"><strong>Instalment System<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/difference-between-consignment-and-sale\/\"><strong>Difference between consignment and sale<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/book-keeping\/\"><strong>Book Keeping<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/revenue-expenditure\/\"><strong>Revenue Expenditure<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/reserves-accounting\/\"><strong>Reserves Accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/difference-between-normal-and-abnormal-loss\/\"><strong>Abnormal loss vs normal loss in consignment<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/accountancy\/\"><strong>Accountancy<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/difference-between-capital-expenditure-and-revenue-expenditure\/\"><strong>Difference between capital and revenue expenditure<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/reserves-accounting\/\"><strong>Provisions&nbsp;<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/treatment-of-loss-on-consignment\/\"><strong>Treatment of loss on consignment<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/accounting-is-an-art-or-science\/\"><strong>Accounting as science or an art<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/accounting-equation\/\"><strong>Accounting Equation<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/single-entry-system-in-accounting\/\"><strong>Single entry system<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/accounting-treatment-of-consignment\/\"><strong>Accounting treatment of consignment<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/accounting-is-an-art-or-science\/\"><strong>Book Keeping vs accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/deferred-revenue-expenditure\/\"><strong>Deferred Revenue Expenditure<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/statement-of-affairs-and-balance-sheet-difference\/\"><strong>Difference between statement of affairs and balance sheet<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/difference-between-joint-venture-and-consignment\/\"><strong>Joint venture vs consignment<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/accounting-is-an-art-or-science\/\"><strong>Book keeping vs accountancy<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/capital-receipt\/\"><strong>Capital receipt<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/ifrs\/\"><strong>IFRS<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/departmental-accounting\/\"><strong>Departmental Accounting<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/accounting-is-an-art-or-science\/\"><strong>Accounting vs accountancy<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/revenue-receipt\/\"><strong>Revenue receipt<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/balance-sheet\/\"><strong>Balance Sheet<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/methods-of-departmental-accounting\/\"><strong>Methods of departmental accounting<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/basis-of-accounting\/\"><strong>Basis of Accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/difference-between-capital-and-revenue-receipt\/\"><strong>Difference between capital and revenue receipt<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/profit-and-loss-account\/\"><strong>Profit and loss Account<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/allocation-of-expenses-in-departmental-accounting\/\"><strong>Allocation of expenses in departmental accounting<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/branches-of-accounting\/\"><strong>Branches of accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/difference-between-accounting-concepts-and-conventions\/\"><strong>Difference between accounting concepts and conventions<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/trading-account\/\"><strong>Trading Account<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/inter-departmental-transfers\/\"><strong>Inter-departmental transfers<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/cash-and-mercantile-system-of-accounting\/\"><strong>Cash and mercantile system of accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/accounting-standards\/\"><strong>Accounting Standards<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/voyage-account\/\"><strong>Voyage Account<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/different-types-of-branches\/\"><strong>Different types of branches<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/accounting-principles\/\"><strong>Accounting Principles<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/objectives-of-accounting\/\"><strong>Objectives of Accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/accounting-for-incomplete-voyage\/\"><strong>Accounting for Incomplete Voyage<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/difference-between-departmental-and-branch-accounting\/\"><strong>Departmental vs Branch accounting<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/golden-rules-of-accounting\/\"><strong>Golden ru\nles of accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/process-of-accounting\/\"><strong>Process of Accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/joint-venture\/\"><strong>Joint venture<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/methods-of-branch-accounting\/\"><strong>Methods of branch accounting<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/double-entry-system-of-accounting\/\"><strong>Double entry system of book keeping<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/scope-of-accounting\/\"><strong>Scope of Accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/difference-between-joint-venture-and-partnership\/\"><strong>Joint Venture Vs Partnership<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/incorporation-of-branch-trial-balance\/\"><strong>Incorporation of branch trial balance<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/difference-between-double-single-entry-system\/\"><strong>Double entry vs Single entry system<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/difference-between-accounting-concepts-and-conventions\/\"><strong>Accounting Concepts vs Accounting conventions<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/methods-of-recording-transactions-in-joint-venture\/\"><strong>Methods of recording transactions in Joint Venture<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/garner-vs-murray-rule\/\"><strong>Garner VS Murray Rule<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/history-of-accounting-pdf\/\"><strong>History of Accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/difference-between-provisions-and-reserves\/\"><strong>Difference between provisions and reserves<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/consignment\/\"><strong>Consignment<\/strong><\/a><\/td><td><\/td><\/tr><tr><td><\/td><td><\/td><td><\/td><td><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link\" href=\"https:\/\/www.linkedin.com\/in\/kajal-mahajan-7549b2197\/\" target=\"_blank\" rel=\"noreferrer noopener\">CONNECT ON LINKEDIN<\/a><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>RECEIPTS AND PAYMENTS ACCOUNT Receipts and Payments Account records all the cash receipts and cash payments of non-profit organisations. It is a real account. It is prepared at the end of the year and records all the transactions whether it belongs to current, future or past years. All the capital and revenue nature items are&#8230;<\/p>\n<p class=\"more-link-wrap\"><a href=\"https:\/\/commerceiets.com\/receipt-and-payment-account-pdf\/\" class=\"more-link\">Read More<span class=\"screen-reader-text\"> &ldquo;RECEIPT AND PAYMENT ACCOUNT PDF&rdquo;<\/span> &raquo;<\/a><\/p>\n","protected":false},"author":2,"featured_media":1904,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19,11],"tags":[84],"_links":{"self":[{"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/posts\/1748"}],"collection":[{"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/comments?post=1748"}],"version-history":[{"count":0,"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/posts\/1748\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/media\/1904"}],"wp:attachment":[{"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/media?parent=1748"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/categories?post=1748"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/tags?post=1748"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}