Dear Team,
my boss asked me to create control accounts for branch transactions.
What are control accounts ? How does it work? What all are the items for which we need to create control accounts? Kindly share your knowledge
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What is Control A/c ?
Replies (3)
What is meant here is the inter unit control account of Head office or other branch Account,if funds trf from headoffice or head office incurs branch expenses all this will be routed thru this inter unit control account and it should be reconciled on a monthly basis
dear author,
for more information about the said matter link is:
https://hpurbandevelopment.nic.in/Accounting%20Mannual%20PDF/CHAPTER%2025.pdf
Thanks a lot friends
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