IBAPP #021 – Control Accounts, misunderstood but a time saver

What is a control account

Example of a Debtors Control Account

How you wages figure can be wrong

Example of a Wages control account

Control Totals and Individual transactions

1 comment to IBAPP #021 – Control Accounts, misunderstood but a time saver

  • Control accounts are misunderstood, but there is nothing wrong with naming any account with the term ‘Control’. A ‘VAT Control’ is a great example. You can use a single account to record both the input and output tax. Whatever the balance is is how much you owe (or are owed). This is an example of a control account that does not connect to a separate ledger.

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