A control account is a general ledger account that summarizes the total balances of subsidiary ledgers, ensuring accuracy and efficiency in financial reporting.
A Sales Day Book is a specialized subsidiary ledger used by businesses to record all the credit sales transactions before they are posted to the general ledger. This helps businesses maintain a detailed record of their sales and enhances the accuracy of their financial reporting.
A subsidiary ledger provides detailed information supporting a specific umbrella account found in the general ledger, ensuring data consistency and detailed record-keeping.
