Control account Reconciliations

Danielle Milton

I'm doing some revision for my exams and I'm confused by one of the questions. It says the error that needs a journal to correct it is "A contra of £582.45 was made in the sale and purchases ledger accounts of Tremayne Holdings Plc". How is this an error? The sales and purchase ledger accounts are meant to have the contra listed. It is only an error if it was only posted in these accounts (so omitted) from the SLCA and the PLCA.

It doesn't make sense to me. The question only says that the entry was made on the Sales and Purchase Ledger; at no point does it say 'only' or 'omitted'. How do you go from the entry being done in the sales and purchase account to doing a journal to input it into the SLCA and the PLCA?

coojee

I'm guessing they mean that it's only been entered in the subsidiary ledgers not the main ledger. So it's in Tremayne's ledger account but not in the main SLCA and PLCA

samiur

can any one explain me how can we control A/c in sage.