In the financial Statements of Not-for-profit organisations, one of the statement Receipt and Payment account is also prepared along with the Income and Expenditure Account and Balance Sheet.  Table of Contents Meaning of the Receipts and Payments account: – Example of Receipts and Payments Account: – 1. With Favourable Bank Balance: – 2. With Unfavourable … Continue reading What is Receipt and Payment account – format in Excel & PDF