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

[Karan Sidhu]

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!!

Posts / Replies

[DR.MARIAPPAN GOVINDARAJAN]

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