April 2021 – Creative Matics

3 12 Control accounts Lecture notes 15 3. Control accounts understand the need for control

April 2021

ContentWhat are control accounts? - and how do they affect my Xero finances?Who are Controlaccount?How control accounts workAre Your Controlaccount Debts Statute-barred? Let’s start by working out what makes up gross pay, which is the total amount we would get paid if we didn’t have any deductions. The situation may arise where a customer is also a supplier. Instead of both owing each other money, it may be agreed that the balances are contra'd, i.e. cancelled. Sometimes you'll want to check what the balances are for data in the past such as the end of the previous month. Control accounts...

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