Difference between Receipts and Payments Account and Cash Book

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Looking for, the difference between Receipts and Payments Account and Cash Book in NPO chapter class 12 CBSE, ISC and State Board.

Both receipts and payments account and cash book are prepared on the cash basis of accounting. Both records cash and bank transactions.

Despite a few similarities, they both have a few differences.

In this lecture, we would discuss a few basic differences between receipts and payments account and cash book

Distinction between Receipts and Payments account and Cash Book

BasisReceipts and PaymentsCash Book
1. BasisIt is prepared from cash book in summarised fromIt is prepared on the basis of each cash receipt and cash payment transaction.
2. SidesIt has receipts and payments side. the left one is receipts and the right one is payment.It has debit and credit sides
3. PeriodIt is prepared at the end of accounting as a summarised form of the cash book.It is prepared on daily basis.
4. Ledger Folio ColumnIt has no Ledger Folio columnsIt has ledger Folio columns.
5. Part of Double Entry SystemIt is not part of a double-entry system. It is merely a summary of cash bookIt is prepared following double entry system of accounting.
6. InstitutionsIt is prepared by Not for profit organization (NPO)It is prepared by all organizations whether profit or non profit.

Further Reading:-

Difference between Income and Expenditure Account and Profit and Loss Account

Difference between Receipts and Payments Account and Income and Expenditure Account

S.NTopics
1.NPO Basic Concepts and Theory
2.Receipts and Payments account of NPO format, features, meaning
3.Income and expenditure account of NPO format features meaning
4.Difference between income and expenditure account and Profit & Loss A/c
5.Difference between Receipts and Payments account and income and expenditure account
6.Difference between receipts and payments account and cash book
7.Difference between NPO and profit organisation class 12
S.NTopics
1.What is Fund Based Accounting in NPO
2.Admission and Entrance fees Accounting Treatment
3.Accounting Treatment of Life Membership Fees in NPO
4.Accounting Treatment of Donation in NPO
5.Accounting Treatment of Legacy in NPO
6.Accounting Treatment of Government Grant in NPO
7.Accounting Treatment of sale of Old News paper in NPO
8.Accounting Treatment of sale of Old Sports Material in NPO
9.Accounting Treatment of Cost of Material Consumed in NPO
10.Accounting treatment of Sale of Assets in NPO
11.Accounting treatment of Subscription in NPO
12.Accounting treatment of Subscription written off in NPO
S.NNPO Chapter Solution
1.TS Grewal NPO Chapter solution 2021-22 Edition
2.DK Goyal NPO Chapter solution 2021-22 Edition
3.SK Sharma NPO Chapter solution 2021-22 Edition
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Anurag Pathak

Anurag Pathak is an academic teacher. He has been teaching Accountancy and Economics for CBSE students for the last 18 years. In his guidance, thousands of students have secured good marks in their board exams and legacy is still going on. You can subscribe his youtube channel and can download the Android & ios app for free lectures.

Articles: 2015

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