Guide Categories
Control Accounts
Control Accounts in Accounter.co.za provide a way to organize and summarize related transactions in your financial reports. They act as summary accounts that group subsidiary ledger details, helping maintain cleaner and more organized financial statements.
Understanding Control Accounts
Control accounts are used to:
- Summarize accounts receivable from multiple customers
- Consolidate accounts payable to various suppliers
- Group inventory items by category or type
- Organize fixed assets and accumulated depreciation
Setting Up Control Accounts
To configure control accounts:
- Navigate to the Settings tab.
- Select Control Accounts.
- Choose the appropriate control account for each category.
- Assign subsidiary accounts to their respective control accounts.
Proper control account setup ensures accurate financial reporting and better organization of your chart of accounts.