Sales Ledger Control Accounts?

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT student discussion
Hi there<BR><BR>This might sound a bit thick but what is the difference between a sales ledger and a sales ledger control account (im completely new to this!!)<BR><BR>Many thanks

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  • System
    System Posts: 100,534 🤖 Admin 🤖
    Sales Ledger Control Accounts?

    I like to think of the Sales Ledger Control Account as the Debtors control Account. As it remind me that this will tells me how much my debtors owe me.<BR><BR>However the Sales Ledger is a record of all the sales including cash and credit sales.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Sales Ledger Control Accounts?

    Hi.<BR><BR>The subsidiary sales ledger is a record of all your sales and does not form part of the double-entry system.<BR><BR>The sales ledger control account records all the relevant information- sales, sales returns, discounts, payments, and is part of the double-entry.<BR><BR>Scott.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Sales Ledger Control Accounts?

    many thanks for your help!

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