control account
Definition
General ledger account whose balance reflects the total of balances of related subsidiary ledger accounts. Accounts receivable and accounts payable are the most commonly used control accounts, and their balances serve as a crosscheck (control) of the accuracy of the associated subsidiary records. Also called controlling account.
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control account is in the Accounting & Auditing and Banking, Commerce & Finance subjects.
control account appears in the definitions of the following terms: summary account, controlling account and subsidiary ledger
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