How to prepare a Receipt and Payment Account | Format, Practical Examples?

Corporate Accounting Treatment

How to prepare a Receipt and Payment Account | Format, Practical Examples?

Receipts and Payments Statement is a financial report that summarizes all cash and bank transactions made by an organization during a specific period (usually one year). It shows both receipts (inflows) and payments (outflows), regardless of whether they are revenue or capital in nature. This statement is commonly used by non-profit organizations, clubs, and societies.

Steps to Prepare a Receipts & Payments Statement:

1.Collect all Cash and Bank Transactions:

Gather all receipts (inflows) and payments (outflows) made during the period, including cash and bank transactions.

2.Receipts Payments Gist sheet for presentation top management:

Here is the demo sheet for learning purpose only:

CORPORATE PRACTICE BD LTD.

Receipts and Payments for the Month of September, 2024

Particulars	CD#110	SND#120	FC#130	ERQ#140	A=Total Bank	H.O Petty Cash	Factory Petty Cash	B=Total Cash	(A+B)TOTAL
Balance as at 01.09.2024	*******	*******	*******	*******	*******	*******	*******	*******	*******
Receipts:
Security Money	*******	*******	*******	*******	*******	*******	*******	*******	*******
Sales proceeds(Export discounting)	*******	*******	*******	*******	*******	*******	*******	*******	*******
Final bill (Export- collected)	*******	*******	*******	*******	*******	*******	*******	*******	*******
Revolving LTR	*******	*******	*******	*******	*******	*******	*******	*******	*******
Received Against RTR (BAIM)	*******	*******	*******	*******	*******	*******	*******	*******	*******
EDF Adjustment	*******	*******	*******	*******	*******	*******	*******	*******	*******
Cash sales of Yarn	*******	*******	*******	*******	*******	*******	*******	*******	*******
Cash Deposit	*******	*******	*******	*******	*******	*******	*******	*******	*******
Wastage / Scrap sales	*******	*******	*******	*******	*******	*******	*******	*******	*******
Interest received	*******	*******	*******	*******	*******	*******	*******	*******	*******
Cash Withdraw	*******	*******	*******	*******	*******	*******	*******	*******	*******
Loanfrom Sister Concern:
(ABC)	*******	*******	*******	*******	*******	*******	*******	*******	*******
(XYZ)	*******	*******	*******	*******	*******	*******	*******	*******	*******
Cash deposit against Wastage	*******	*******	*******	*******	*******	*******	*******	*******	*******
LC Margin Refund	*******	*******	*******	*******	*******	*******	*******	*******	*******
Dividend Income	*******	*******	*******	*******	*******	*******	*******	*******	*******
Contra	*******	*******	*******	*******	*******	*******	*******	*******	*******
Foreign Exchange gain	*******	*******	*******	*******	*******	*******	*******	*******	*******
Total Receipts	*******	*******	*******	*******	*******	*******	*******	*******	*******
Payments:
Waste materials payment	*******	*******	*******	*******	*******	*******	*******	*******	*******
Spare parts purchase	*******	*******	*******	*******	*******	*******	*******	*******	*******
Packing Material	*******	*******	*******	*******	*******	*******	*******	*******	*******
Salary, Wages Allowances & Bonus	*******	*******	*******	*******	*******	*******	*******	*******	*******
EDF Adjustment	*******	*******	*******	*******	*******	*******	*******	*******	*******
Interest of EDF Adjustment	*******	*******	*******	*******	*******	*******	*******	*******	*******
Term Finance	*******	*******	*******	*******	*******	*******	*******	*******	*******
Revolving LTR Adjustment	*******	*******	*******	*******	*******	*******	*******	*******	*******
Interest on EDF	*******	*******	*******	*******	*******	*******	*******	*******	*******
Chairman Remuneration	*******	*******	*******	*******	*******	*******	*******	*******	*******
Vice chairman Remuneration	*******	*******	*******	*******	*******	*******	*******	*******	*******
Director Remuneration	*******	*******	*******	*******	*******	*******	*******	*******	*******
RTR/BIAM/Profit Adjustment	*******	*******	*******	*******	*******	*******	*******	*******	*******
LTR Adjustment	*******	*******	*******	*******	*******	*******	*******	*******	*******
Loan to Sister Concern:
(XYZ)	*******	*******	*******	*******	*******	*******	*******	*******	*******
AIT deposits party/Employee	*******	*******	*******	*******	*******	*******	*******	*******	*******
Advance Income TAX	*******	*******	*******	*******	*******	*******	*******	*******	*******
Cash Withdraw	*******	*******	*******	*******	*******	*******	*******	*******	*******
Conveyance/fooding	*******	*******	*******	*******	*******	*******	*******	*******	*******
Cash deposit against Wastage	*******	*******	*******	*******	*******	*******	*******	*******	*******
Titas Gas Transmission & Dist. Co. Ltd.	*******	*******	*******	*******	*******	*******	*******	*******	*******
Escort bill	*******	*******	*******	*******	*******	*******	*******	*******	*******
Office rent	*******	*******	*******	*******	*******	*******	*******	*******	*******
Bank charge	*******	*******	*******	*******	*******	*******	*******	*******	*******
Other Fess & Charge	*******	*******	*******	*******	*******	*******	*******	*******	*******
Advance Income Tax	*******	*******	*******	*******	*******	*******	*******	*******	*******
Printing & Stationary	*******	*******	*******	*******	*******	*******	*******	*******	*******
Fuel & VM Bill ( For Car)	*******	*******	*******	*******	*******	*******	*******	*******	*******
Insurance Premium	*******	*******	*******	*******	*******	*******	*******	*******	*******
Foreign exchange gain	*******	*******	*******	*******	*******	*******	*******	*******	*******
LC Charge & Commission	*******	*******	*******	*******	*******	*******	*******	*******	*******
LC Margin Deposited	*******	*******	*******	*******	*******	*******	*******	*******	*******
Foreign exchange gain	*******	*******	*******	*******	*******	*******	*******	*******	*******
VAT on Cash sale	*******	*******	*******	*******	*******	*******	*******	*******	*******
Sales Commission	*******	*******	*******	*******	*******	*******	*******	*******	*******
Common Expenses	*******	*******	*******	*******	*******	*******	*******	*******	*******
Audit fee	*******	*******	*******	*******	*******	*******	*******	*******	*******
Contra	*******	*******	*******	*******	*******	*******	*******	*******	*******
Total Payments	*******	*******	*******	*******	*******	*******	*******	*******	*******
Closing Balance as on 30.09.2024	*******	*******	*******	*******	*******	*******	*******	*******	*******

2.Receipts Payments Gist sheet for presentation top management:

CORPORATE PRACTICE BD LTD.

Gist for the Month of September-2024

Source of Fund		Amount (Taka)	Application of Fund		Amount (Taka)
Opening Balance		*******	Operational Expenditure
Cash in Hand Head Office	*******		Spare Parts Purchase		*******
Cash in Hand Factory	*******		Packing Material		*******
Cash at Bank	*******		Wages, Salary & Allowances		*******
Export Proceeds		*******	Common Expenses (H.O)		*******
Cash Sales of Yarn		*******	AIT deposits party/Employee		*******
Wastage sales		*******	Titas Gas Transmission & Dist. Co. Ltd.		*******
		*******	VAT Deposit Expenses		*******
Loan From Sister Concern			Advance against Cash Purchase & Others		*******
ABC		*******	R/C,W/C & Yarn Carrying & Unloading		*******
XYZ		*******	Transit Spare Parts & C & F bill		*******
AMZ		*******	Others payment		*******
			Waste Cotton		*******
			Waste Cotton payment		*******
					*******
			Bank Loan Payment		*******
			EDF Loan Adj. Shahjalal Islami Bank		*******
			EDF Loan Adj. Social Islamic Bank		*******
			Term Finance-SJIBL		*******
			Loan To Sister Concern:
			ABC		*******
			Closing Balance	(A+B+C)	*******
			Cash in Hand Head Office	A	*******
			Cash in Hand Factory	B	*******
			Cash at Bank	C	*******
	Total	*******		Total	*******

How to prepare a Receipt and Payment Account | Format, Practical Examples?

Steps to Prepare a Receipts & Payments Statement:

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