Hi, it seems to me that this is regarding accounting. This is what it means: "A receipt and payment account is a summarized cash book (cash and bank) for a given period". ... Various cash receipts and cash payments during the whole year find place in this account in a classified manner. Basically it is to see all the income and payments made by a company. Hope this helps!

Thank you so much. I thought that it is an act of counting all the money in the receipts by adding. It is helpful :D

Fonso, Balance receipts means to take time to check money coming in (or money you have) against money going out (money you spend). A business would say they balance receipts. A person might say they are "balancing their checkbook". This is done to find out if you/your company did a good job following a budget, or to help set a budget. Hope this is helpful.