stuck-please help!

System
System Posts: 100,534 🤖 Admin 🤖
edited 10:32AM in AAT student discussion
Can anyone suggest ways to reconcile a control account if the memorandum ledger and the invoices are not available?

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:stuck-please help!

    If it's the purchase ledger control account you can contact your suppliers and ask them for an up to date statement, and therefore what is outstanding with them should be the balance on the control account... Don't think it would work with Sales Ledger control though...People are far to dishonest!

    Does this help?
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:stuck-please help!

    Yes thank you that does help, silly question perhaps but struggling to get my head around all of this - is the day book the same as the memorandum ledger or are they two seperate things?

    Thanks
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:stuck-please help!

    Yes, the Sales day book and Purchases day books are part of the memorandum ledger. (Stores all of the back up info for the main ledger)

Categories

Privacy Policy