12-16-2004, 04:04 PM
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Just wanted to know the following about control accounts
1. What is a control account?
2. What is the role of control accounts?
Murali Krishna
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Control A/c is a summary of lot of subsidiary accounts. e.g. a company has 500 No. of debtors and it will not be feasable for it to open an account for each and every debtor in its main books. Instead it opens a control a/c in its books and keeps all 500 hundred debtors in a separate ledger called subsidiary ledger.
SMR
Just wanted to know the following about control accounts
1. What is a control account?
2. What is the role of control accounts?
Murali Krishna
<hr height=1 noshade id=quote></BLOCKQUOTE id=quote></font id=quote><font face="Verdana, Tahoma, Arial" size=2 id=quote>
Control A/c is a summary of lot of subsidiary accounts. e.g. a company has 500 No. of debtors and it will not be feasable for it to open an account for each and every debtor in its main books. Instead it opens a control a/c in its books and keeps all 500 hundred debtors in a separate ledger called subsidiary ledger.
SMR
