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tonys


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Control Accounts
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Hi,

On a Sage system, when asked to "reconcile the control accounts" can someone confirm what they would do?

I am thinking debtors report matching debtors control account on TB?

Tony.

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ADAS


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Apart from Debtors, Creditors and Bank - I'd look at Vat Control, Paye, NI & Net Pay.

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Tony

Responses are intended as outline only. Formal advice should be sort from your Institutes Technical Department or a suitably qualified Accountant.
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tonys


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Posts: 226
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Okay, so I have full rec on bank which I am familiar with,VAT I get, but would you just run a creditors and debtors report off at Y/E date and check it is the same as figure on the control account on the TB at Y/E.?
I know on the bank rec I print off a list of all items not yet processed to match with the actual figure at the bank but do I just check the figures are the same for debtors and creditors?

Thanks for patience!!

Tony.

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ADAS


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That's it Tony - if the Aged Debtors / Creditors report matches the Nominal balance it's all good.


__________________
Tony

Responses are intended as outline only. Formal advice should be sort from your Institutes Technical Department or a suitably qualified Accountant.
.
tonys


Senior Member

Status: Offline
Posts: 226
Date:
Permalink Closed

Thank you, I thought I understood but still building confidence!

Tony.

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