Please help - Debit/Credit query

System
System Posts: 100,534 🤖 Admin 🤖
edited 10:23AM in AAT student discussion
Hi,<BR><BR>I was hoping someone could help me out.<BR><BR>Im doing a devolved assessment practice unit and im abit confused over the Debit and Credit side of the main ledger and subsidary accounts.<BR><BR>I have entered all the chqs, remits into the cashbook and coded the following<BR>Reciepts - DR<BR>Disc Allowed - DR<BR>Total Debtors - CR<BR><BR>is that correct? when i am entering the payments recieved into the individual subsidary accounts am i crediting all the accounts as we have recieved a payment off them? im confused as the Total Debtors has to balance the subsidary accounts total?<BR><BR>thanks in advance for you help

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  • System
    System Posts: 100,534 🤖 Admin 🤖
    Please help - Debit/Credit query

    Hi<BR><BR>When entering from your main ledger into the subsidiary ledger all the entries are on the same side, as the sales/purchase ledger subsidiary accounts are not part of the double entry system.<BR><BR>So when the cusomer pays, you would credit their account in the subsidiary ledger, and credit the sales ledger control account in the main ledger, if you have a bank account in the main ledger you would debit it, or use the debit side of the cash book as your opposite entry.<BR><BR>Hope this is of help.<BR><BR>Tracy
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Please help - Debit/Credit query

    Thanks thats a great help

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