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

[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!!

[DR.MARIAPPAN GOVINDARAJAN]

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

AI Summary

Can a Regular Current Account Function Like an Escrow for Payments and Disbursements? Community Weighs In A forum participant inquired whether payments could be accepted from customers and then disbursed to sellers, functioning like an escrow, using a regular current account. They also asked how to record such transactions in the account. A respondent expressed the opinion that it is not possible to conduct such transactions through a normal current account and invited further opinions from other members.