B2: 3 Control accounts

In this section

In this section we will look at some of the control accounts in a business’ general ledger. We will consider what makes a control account and how they are used in a bookkeeping system to reduce the risk that the information in the ledgers is incorrect.

We will look at the Sales Ledger Control account, the Purchases Ledger Control account, the VAT Control account and the Bank Control account in detail and examine how they are “reconciled” to ensure that the recorded balances are correct.


3.01 Control accounts

3.02 Bank reconciliations

3.02(a) The Bank reconciliation process

3.03 The Sales Ledger Control account

3.04 Reconciling the Sales Ledger Control account

3.05 The Purchases Ledger Control account

3.06 Reconciling the Purchases Ledger Control account

3.07 Aged Receivables lists and Aged Payables lists

3.08 The VAT Control account

3.09 Control accounts questions and answers

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