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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FA – FIA FFA › Receivables Control Ledger
Sir, in receivable control ledgers, we do not consider allowance for receivables but do increase / decrease in allowance get counted? What about specific allowances?
There is no such things as the receivables control ledger. There is the receivables ledger and their is the receivables control account in the general (or nominal) ledger.
However no allowances are not recorded in any receivables account. They are recorded in the separate allowance for receivables account.
This is all explained in my free lectures on irrecoverable and doubtful debts (and the various account and lectures in general are explained in my lectures on Books of Print Entry).
okay sir thanks
You are welcome 🙂