Control
Accounts
Definitions
o
Payables (purchases) ledger control account
- used to record total liability to credit suppliers
in the general ledger.
- records details of the amounts owed to each
supplier.
o
Receivables (sales) ledger control account
- used to record the total amount owed by the
credit customer in the general ledger.
- records details of the amounts owing from each customer.
3 main
functions:
1.
To provide totol asset (Receivables) N total
liability (Payables) figures for the Statement of Financial Position (SOFP)/
Balance Sheet.
2.
To act as control over the sales and purchases
personal ledger.
3.
To assist in calculating missing figures of the
accounting records that are incomplete.
如何简易记得Control
account 的方法，不用辛苦的背。
这是我从中学补习老师那里学来的很好用 ~分享给大家
就是在ledger
上面加（+
- ）的符号,只要想着是supplier
or customer 和 欠账（增加就放在+
side，欠账减少就 – side）一直问自己欠账增加还是减少就可以了。
就是这样罢了
T a/c
+ Receivables ledger control account -
T a/c
+ Receivables ledger control account -
Payables
ledger control account 就是（ - +）
-
|
Payables ledger control account
|
+
|
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| 下有图片 | ||||||
然后呢
题目一定是要你找
1-Sales /
Purchase
2- bal
c/d （Closing balance）
3- bank
这三个里面的一个
**contra 一定是两个a/c（Receivables
&Payables ledger control account）减的side
** 找出来的Purchase/Sales是欠账的（credit
sales），还没加 cash sales。
看清楚题目要的是credit
sales amount 还是total
sales！
Example Format
of Control Account:
 |
| 红色highlight的是Receivable ledger control account 一定要有的 |
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