How to reconcile the purchases ledger control account
The control account and the list of supplier balances should agree. When they do not, work out which record is wrong and fix it.
Task 1Does the list agree with the control account?3 questions
A reconciliation is a check that two records of the same thing agree. Here the two records are the control account and the purchases ledger.
Add up the balance on every supplier's account. The total should equal the balance on the control account.
At 30 April the purchases ledger control account shows a credit balance of £6,180.
| Supplier | Balance owed |
|---|---|
| Larchgate Timber | 3,650.00 |
| Kestrel Fixings | 1,480.00 |
| Moorside Tool Hire | 870.00 |
Task 2Where an error can hide3 questions
Task 3Finding and correcting the errors4 questions