PLC and SLC

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Emilie
Emilie Registered Posts: 37 Regular contributor ⭐
in AAT Level 3 (Level 6 in Scotland)
Hi,

can anyone advise how you would close off a PLC and a SLC.

thanks

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  • r4chy
    r4chy Registered Posts: 30 Regular contributor ⭐
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    purchase ledger and sales ledger control?

    just close them as you would any other account, total the debit and credit sides of the accounts, put in your balance figure and bring forward as your opening balance....hope that helped!
  • Bluewednesday
    Bluewednesday Registered Posts: 1,624 Beyond epic contributor 🧙‍♂️
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    As r4chy says, you wouldn't close them off to zero because they are balance sheet accounts so their balances are carried forward

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