Sales Ledger Control Account
Obtain necessary details of the general ledger account. Interest charged on overdue accounts.
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From the Journal Proper Journal.
. Here a Subsidiary Ledger is a ledger recording detailed information of the related Control Account. Thus you simply record a summary of various balances in accounts receivable when you use it as a Control Account. The first step in preparing a general ledger reconciliation is to obtain the necessary details of the general ledger account that you wish to reconcile.
Which means you have full control over your assets unlike staking coins on an exchange like Binance or Kraken. Accounts Receivable is most commonly used as a General Ledger Control Account. With Ledger Live you can therefore choose the validator to whom you delegate your crypto which is not possible on an exchange.
Set off Transfer to sales ledger From the Journal Proper Journal. For most reconciliations you will need the ending balance of the general ledger accountthe balance as of the period end date. These include a summary of.
Purchases ledger control account is generally prepared at the end of the financial year or whenever it is required to check the arithmetical accuracy of the individual trade payable accounts. When you stake your crypto using Ledger Live you own the private keys giving access to your crypto.
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