- This topic has 1 reply, 2 voices, and was last updated 6 years ago by .
Viewing 2 posts - 1 through 2 (of 2 total)
Viewing 2 posts - 1 through 2 (of 2 total)
- The topic ‘Suspense accounts’ is closed to new replies.
OpenTuition recommends the new interactive BPP books for June 2024 exams, Get your discount code >>
Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FA – FIA FFA › Suspense accounts
Hello sir Moffat, I hope you are well.
Another question please.
You correct errors of the same entity but some affect Receivables ledger and some Receivables control account.
I understand that if no statement like ‘ Control accounts are maintained’ is given, then we neglect the effects on control accounts.
How should everything be done sir?
If no control accounts are maintained, then the double entries are directly to the individual receivables accounts in the receivables ledger.
Usually there are control accounts in which case the double entries are to the control accounts and the individual accounts are memorandum (note) only and are not part of the double entry.