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I get that trade receivables ledgers and trade payable ledgers are just memorandum accounts that have the detail of the credit customers and the credit suppliers respectively such as their names. Therefore it does not form part of the ledgers under the general ledger
What I don’t get is why is it just the trade receivables and trade payables ledger accounts in the general ledger that have the name control? Why not the sales ledger control account or depreciation expense control ledger account?
The reason for having receivables and payables ledgers with accounts for each customer and supplier is that we need to know how much each individual customer owes us (so we can chase people who are late paying) and because we need to know how much to pay each individual supplier. We do not need that sort of information for sales or depreciation etc..
Have you actually watched the free lectures?
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