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Can we accept payments and disburse it to sellers like an escrow from a current a/c?, Accounting - Auditing

Issue Id: - 115291
Dated: 7-8-2019
By:- Karan Sidhu
Can we accept payments and disburse it to sellers like an escrow from a current a/c?

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Hello members,

Can we accept payment from customers and disburse it to sellers later on like an ESCROW from a normal current account? If yes, then How do we show such transaction entries in our current accounts?

Advance thanks!!

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1 Dated: 19-8-2019
By:- DR.MARIAPPAN GOVINDARAJAN

In my view it is not possible. Other views are solicited.


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