Doctor Accounting : Chapter 13 in Collaboration with SAA Global Education
Do you know what is Control Account? How is it useful in accounting?
Watch Dr Accounting chapter 13 to learn more about the world of Accounting with us!
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Welcome to Doctor Accounting chapter thirteen.
In this series, I would like to share with you on Control Account.
So what is a Control Account?
A Control Account is a form of a general ledger, which shows a summarize amount.
So why company uses Control Account?
A control account can be used to check on accuracy in the financial posting. It is also a form of internal control. In fact, many audit processes tend to use Control Account.
There are many types of Control Account, for example like wages control account, receivable control account, payable control account.
However in my next series, I like to share with you in-depth what is a receivable control account and payable control account.
So, don’t miss it! Thank you.