Brisbane Bookeeping | Brisbane Bookkeeper

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If your creditors list does not agree with the control account, check the following points:

Have you listed all your creditors, including those invoices only partly paid or outstanding from the beginning of the period, and those invoices paid directly after the end of the period, because these payments would not be in the cash book?

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Credit notes – does your total of invoices in the period include credit notes received? If not, these must be included on the credit side of the account

Payments from cash book – these should be only those that relate to invoiced expenses, not items such as wages, interest, etc. If included, these figures should be taken off the payments figure in the control account

Discounts – purchases where a discount reduces the payment below the invoiced amount should have the discount in the control account

Those payments for purchases that were not entered into the cash book will have to be included as a payment on the control account

Addition error of payments, invoices, or creditors totals, or duplication of invoices, payments, or creditors in listings

The amended purchase ledger control account might look as follows:

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