Railway Accounts Vs Commercial Accounts

Railway Accounts Vs Commercial Accounts

Railway Accounts	Commercial Accounts
Demands Recoverable A/c	Debtors A/c
Traffic A/c	Debtors A/c
Sales Suspense A/c	Debtors A/c
Labour  Suspense A/c	Creditors A/c
Purchase Suspense A/c	Creditors A/c
Demands Payable A/c	Creditors A/c
Cheques & Bills A/c	Bank A/c
RIB - Remittance Into Bank A/c	Bank A/c
Stores A/c	Purchases A/c or Sales A/c

Notes:

·         The above list is not exhaustive.

  

·         Though the nomenclature is different in Indian Railways, but the recording of Journal Entries in the Railways is always abide by the Golden Rules of Double Entry system.