top of page
Sales Ledger Control Account
It is an account which summarises all the customer accounts (Debtors) in the Sales Ledger
Can be called as
"Sales ledger Control accounts" or
"Total Debtors Account"
Purchase Ledger Control Account
It is an account which summarises all the supplier accounts (Creditors) in the Purchase Ledger
Can be called as
"Purchases Ledger Control accounts" or
"Total Creditors Account"
"IT IS NOT A PART OF DOUBLE ENTRY SYSTEM"
- The closing balances on the SALES LEDGER CONTROL ACCOUNT should be equal to the sum total of the closing balances on the individual debtor accounts in the sales ledger.
- The closing balances on the PURCHASE LEDGER CONTROL ACCOUNT should be equal to the sum total of the closing balances on the individual creditor accounts in the purchases ledger.
bottom of page