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June 12, 2026, 08:42:33 am
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Author Topic: Subsidiary control accounts.  (Read 1010 times)  Share 

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sick muzza

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Subsidiary control accounts.
« on: April 22, 2009, 09:59:25 pm »
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just noticed on my sac sheet is says 4 marks for 'reconcile subsidiary with control accounts'

can anyone tell me what this is? havent seen anything in my book, or is it just making sure the totals add up to the total in the control account?
« Last Edit: April 22, 2009, 10:08:17 pm by costargh »
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costargh

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Re: Subsidiary control accounts.
« Reply #1 on: April 22, 2009, 10:07:17 pm »
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Edit: Sorry about the accidental edit above. I thought I was replying but I was actually editing. My bad.


subsidiary refers to individual debtors and creditors

eg. J. Smith would have an individual account

Debtor- J. Smith


Control accounts summarise all debtors

Eg. Debtors Control


The balances of the subsidiary accounts will equal the balance of the control account

Eg.

as at June 30

Debtor- J Smith $1000 DR balance

Debtor- N Smith $2000 DR balance

Debtor- A Smith $3000 DR balance

Therefore Debtors control = $6000

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