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Control Accounts

Control accounts act as a single sum related to a large group of individual accounts. Examples include accounts receivable and accounts payable on the balance sheet. It is rare to find a control account on the income statement.

Bookkeeping – Tracking Invoices (Lesson 36)


Now that I’m done with the employee payroll series, Lessons 30-35, it is time to explain sales.   There are five lessons for this section of daily operations. They are as follows: Tracking Invoices  – Lesson  36  (this lesson) [...]

Control Accounts in Accounting


Accounting uses accounts to sum up activity related to a particular function of business.  As an example the bank account has a register which identifies the activity in a ledger format of what transpires at the bank for this particular account.  [...]