Home >  Term: control account
control account

An account that records totals of amounts entered in a subsidiary ledger. Control accounts are used to test the accuracy of calculations and postings to ledger accounts.

There are two types of control accounts:

-Debtors control account

-Creditors control account

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  • Part of Speech: noun
  • Industry/Domain: Software
  • Category: ERP
  • Company: SAP

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  • Kristen
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