What is Receipt and Payment account – format in Excel & PDF

In the financial Statements of Not-for-profit organisations, one of the statement Receipt and Payment account is also prepared along with Income and Expenditure Account and Balance Sheet. 

1. Meaning of the Receipts and Payments account: –

The Receipt and Payment account is just a summary of the all-cash transaction(including transaction done through Bank) related to receipts and payment made by the organisation during a relevant accounting period. This account is being prepared at the end of the financial year along with income and expenditure account and balance sheet.

The cash book and Receipts and Payment Account both provide the same information but in a different manner. In the cash book, all the transaction are recorded in the chronological order but in Receipts and Payment Account the only summary of accounts are shown at the end of the relevant accounting period. Receipts and Payment account does not give the date of Transactions. 

In the Receipts and Payment Account, all the cash receipts are recorded on the debit side and all cash payments are recorded on the credit side of the account. 

2. Example of Receipts and Payments Account: –

We have created two examples for you, One is with favourable bank balance (under draft) and another is with unfavourable bank balance(Overdraft). These are shown as under: –

1. With Favourable Bank Balance: –

2. With Unfavourable Bank Balance: –

In this example, we have just changed the bank balance. 

3. Format of Receipt and Payment Account: –

We have created the format of receipts and Payments account in PDF and Excel. These are shown as below: –

1. Format of Receipts and Payments Account in Excel: –

Download the Excel Sheet from the below link. It has two worksheets 

1. Format for favourable bank Balance 
2. Format for Unfavourable Bank Balance

2. Format of Receipts and Payments Account in PDF: –

Download the PDF from the below link. 

1. Format of Receipt and Payment Account Format – Favourable bank Balance
2. Format of Receipt and Payment Account Format – Unfavourable 

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