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Control and ledger account

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FA – FIA FFA › Control and ledger account

  • This topic has 1 reply, 2 voices, and was last updated 8 years ago by AvatarJohn Moffat.
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  • November 23, 2017 at 9:42 pm #417687
    Avatarsuleymanabuzerli
    Member
    • Topics: 84
    • Replies: 32
    • ☆☆

    hello,what is main the difference between Control and ledger account

    November 24, 2017 at 8:42 am #417757
    AvatarJohn Moffat
    Keymaster
    • Topics: 57
    • Replies: 54837
    • ☆☆☆☆☆

    The control account is a ledger account (it is in the nominal.general ledger).

    I think what you are really asking is what is the difference between the Receivables ledger control account, and the receivables ledger.

    The receivables ledger control account records total receivables and is part of the double entry. The receivables ledger is a book containing accounts for each individual customer, and is not part of the double entry.

    This is all explained in full (with a full example) in my free lecture on Books of Prime Entry.
    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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