What are the advantages of preparing a Debtors’ Ledger Control Account

August 6th, 2011 Comments off
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Advantages are:

  • It provides the total of debtors quickly and easily when a trial balance is prepared
  • It acts as an independent check on the arithmetical accuracy of the balances in the Debtors’ ledger
  • It will confirm whether  or not a difference on a trial balance is caused by an error in the debtors’ ledger or the control account
  • It acts as a form of internal check to discover errors and deter fraud.

 

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Financial Accounting

 
 

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