I n t e r a c t I v e t e X t foundations in Accountancy/ acca financial accounting (ffa/FA) bpp learning Media is an acca approved Content Provider

PART E: PREPARING A TRIAL BALANCE 

 

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4.2 Balancing and agreeing control accounts with receivables and  

payables ledgers 

The control accounts should be balanced regularly (at least monthly) and the balance on the account 

agreed with the sum of the individual debtors' or suppliers' balances extracted from the receivables or 

payables ledgers respectively. It is one of the sad facts of an accountant's life that more often than not 

the balance on the control account does not agree with the sum of balances extracted, for one or more of 

the following reasons. 

(a) An