What Are Control Accounts in Accounting?

  • admin
  • November 12, 2021
  • 7 min read

We need to apply control because these accounts are expected to have a massive number of transactions. For instance, all the transactions regarding credit purchases will be posted in the subsidiary payable accounts, where party-wise data is maintained along with purchase returns and discounts received. Accurate financial record-keeping forms the foundation of sound business operations. […]

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