Skip to contentSkip to search

Payables control account

The payables control account summarises total trade payables in the general ledger and is reconciled to supplier balances. Credit purchases increase the control account; payments and purchase returns normally decrease it. Add the individual supplier balances in the payables ledger and compare that total with the control balance. Correct errors in whichever record contains them. A reconciliation identifies differences before corrections are posted to the proper records.

Worked example

A credit purchase credits the control account and increases the amount owed.

Common mistake

A debit balance on an individual supplier account can arise; investigate rather than automatically removing it.

Where it appears in your exams

QualificationExamRelationshipPeriod
ACCA F1 Supporting July 2027–August 2028
ACCA FA Direct September 2026–June 2027
ACCA K1 Direct July 2027–August 2028
CIMA BA3 Direct Official assessment-window verification pending
FIA FFA Direct September 2026–June 2027

Related terms