Control accounts

Format of Sales ledger control a/c (It is a Trade Receivable a/c)

$ $
Balance b/d xxxx Balance b/d (Op advance) xxxx
Credit sales xxxx Collections (Cash/Bank) xxxx
Bank (cheque dishonoured) xxxx Discount Allowed xxxx
Interest on overdue amount xxxx Bad debts xxxx
Sales Return xxxx
Transfer to Purhcase
Ledger Control xxxx
Balance c/d xxxx Balance c/d xxxx
xxxx xxxx

Balance b/d xxxx Balance b/d xxxx

Important Note : PFDD and Bad debts recovered is not recorded in TR a/c

Format of Purchase ledger control a/c (It is a Trade Payable a/c)

$ $
Balance b/d (Op advance) xxxx Balance b/d xxxx
Payment (Cash/Bank) xxxx Credit Purchases xxxx
Discount Received xxxx Bank (cheque dishonoured) xxxx
Purchase Return xxxx Interest on overdue amount xxxx
Transfer to Sales Ledger
Control xxxx
Balance c/d xxxx Balance c/d xxxx
xxxx xxxx

Balance b/d xxxx Balance b/d xxxx