The equivalent of a club's Receipt and payment account is

The equivalent of a club's Receipt and Payment account is a Cash Account. A club's Receipt and Payment account is a summary of all the cash and bank transactions made during a particular period, typically a year. It includes all the cash and bank receipts and payments made by the club, irrespective of the nature of the transaction, such as subscriptions received from members, rent collected, wages paid, etc. Similarly, a Cash Account is a summary of all the cash transactions made by an entity during a particular period. It includes all the cash receipts and payments made by the entity, such as sales receipts, rent collected, wages paid, etc. Therefore, a club's Receipt and Payment account and a Cash Account serve the same purpose of summarizing all the cash transactions made during a particular period.