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What is a control account? What are the main entries in a sales ledger control account? How do you reconcile a control account to the ledger? What are the benefits of control accounts?
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Financial Accounting › Control Accounts

What is a purchase ledger control account?

Beginner

Answer

The total account for amounts owed to suppliers; its balance equals the sum of the individual supplier (creditor) accounts.
Purchase Ledger Control = total trade payables
Real-world example Shows total money owed to suppliers at a glance.
All 5 Control Accounts questions