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Dear Mr Moffat
When we do control accounts reconciliations we can come across errors. One of them is worded like this:
Posting individual entries twice, affecting the subsidiary ledger
Can you please give example of this situation ? I have troubles to interpret this error. Regards. Rafal
The term ‘subsidiary ledger’ is not a term used in the exam. It must presumably refer to the payables or receivables ledger. These are not part of the double entry, and so although entering an item twice is wrong and will affect the total of the list of balances (and therefore need correcting), it will not affect the control accounts because in the control accounts we enter totals from the books of prime entry and not the individual amounts.
You need to watch my free lectures on books of prime entry, where all this is explained.
The lectures are a complete free course for Paper f3 and cover everything needed to be able to pass the exam well.
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