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What is a control account? What is a purchase ledger control account? What are the main entries in a sales ledger control account? What are the benefits of control accounts?
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How do you reconcile a control account to the ledger?

Intermediate

Answer

Compare the control account balance to the total of the individual subsidiary ledger balances and investigate any difference (postings, omissions, errors).
Control 12,400 vs list of balances 12,250 -> find the 150 difference
Real-world example A mismatch flags a posting error before the accounts are finalised.
All 5 Control Accounts questions