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Which Entries comes in Receipts & which entries in
Payments,any payment & Income is received through cheque
that entries will appear in it or we have to pass it in journal.

Question Posted / mrunali

Answers were Sorted based on User's Feedback



Which Entries comes in Receipts & which entries in Payments,any payment & Income is receive..

Answer / suhas1984

income related enteries comes in receipts and payment
related enteries comes in payment side, talking about the
journal entries if you are maintaining billwise detials it
is necessary to passed a journal entry for a particular
ledger to match.

Is This Answer Correct ?    6 Yes 0 No

Which Entries comes in Receipts & which entries in Payments,any payment & Income is receive..

Answer / sreedevi

receipts through cash or bank and even for payments also
pertaining to cash or bank comes in receipts and payments
and for these receipts and payments journal entries are not
passed

Is This Answer Correct ?    5 Yes 2 No

Which Entries comes in Receipts & which entries in Payments,any payment & Income is receive..

Answer / ravikumar

We are getting commission ,instead paying the commission.So
the Commission will be credited and the Bank A/C will be
debited

Is This Answer Correct ?    0 Yes 0 No

Which Entries comes in Receipts & which entries in Payments,any payment & Income is receive..

Answer / priya

we have received any amount from parties it will come in
receipt side ,any payment we made it will come in payment
side. Journal is the transcation of new datas.

Is This Answer Correct ?    0 Yes 0 No

Which Entries comes in Receipts & which entries in Payments,any payment & Income is receive..

Answer / narasimha rao

ERECEIPTS ENTRIES ARE COMES UNDER RECEIPTS.T RENT IS
RECEIVED THROUGH CHEQUE WHEN ENTRY IS
BANK A/C DR
TO RENT A/C

PAYMENTS ENTRIES ARE COMES UNDER PAYMENT COMMISSION PAID
THROUGH CHEQUE WHEN ENTRY IS

COMMISSION A/C DR
TO BANK A/C

Is This Answer Correct ?    0 Yes 1 No

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