R&P is just like cash account
I & E is just like P&L Account 
All this account maintain in service sector

Receipt and payment accounts are maintained by trading
concern and income and Expenditure accounts are maintained
by non trading concern.

R&P is just like cash account,and Receipt and payment 
accounts are maintained by NON 
trading,Profession,individuals
concern and I & E is just like P&L Account  I&E are 
maintained
by  trading concern.

Receipt and payment account is nothing but a cash account 
which starts with opening balance of cash and all receipts 
and payments whether capital or revenue or whether 
pertaining to last year,current year,or next year are 
recorded.The net result is the closing balance and the 
balance is always debit since the payment side can not be 
more that receipt side.
As against Income and Expenditure account only records 
revenue expenditure whether paid or not and only pertaing 
to current year.
The non cash expenses like depreciation are also recored in 
Income and Expenditure Account.
The resultant figure of Income and expenditure account is 
either excess of income over expenditure or excess of 
expenditure over income.
Thus the income and expenditure can have debit or credit 
balance.
Receipt and payment account is prepared for all types of 
organisations including profit making organisations.
The Income and Expenditure account is only prepared by Non-
profit making organisation.

Receipt and payment account is nothing but a cash account 
which starts with opening balance of cash and all receipts 
and payments whether capital or revenue or whether 
pertaining to last year, current year, or next year are 
recorded. The net result is the closing balance and the 
balance is always debit since the payment side can not be 
more that receipt side.
As against Income and Expenditure account only records 
revenue expenditure whether paid or not and only pertaining 
to current year.
The non cash expenses like depreciation are also recorded 
in Income and Expenditure Account.
The resultant figure of Income and expenditure account is 
either excess of income over expenditure or excess of 
expenditure over income.
Thus the income and expenditure can have debit or credit 
balance.
Receipt and payment account is prepared for all types of 
organizations including profit making organizations.
The Income and Expenditure account is only prepared by Non-
profit making organization.
The resultant figure i.e.closing balance of Receipt and 
payment account is shown as “Cash in hand”at the asset side 
of balance sheet.
The resultant figure of Income and Expenditure account i.e 
Excess of Income over Expenditure or Excess of expenditure 
over income is added or subtracted from Capital Fund 
respectively.