Control Accounts

[muralikreddy]

Just wanted to know the following about control accounts

1. What is a control account?
2. What is the role of control accounts?


Murali Krishna

[smraza]

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Just wanted to know the following about control accounts

1. What is a control account?
2. What is the role of control accounts?


Murali Krishna
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Control A/c is a summary of lot of subsidiary accounts. e.g. a company has 500 No. of debtors and it will not be feasable for it to open an account for each and every debtor in its main books. Instead it opens a control a/c in its books and keeps all 500 hundred debtors in a separate ledger called subsidiary ledger.

SMR

[ayesha79]

hello murali.. didnt know there were so many indians on this forum.. where are u from and how did u know about this site..

Be yourself

[maani]

Welcome Murali...I think u have got the answer...and plz give ur brief intoduction...

Ace