Subsidiary Ledger
Posted: 12 Mar 2010, 09:41
What is a subsidiary ledger please? Is it a control account?
A subsidiary ledger is
Either:-.
one that makes up the balance in a balance sheet account eg the Sales ledger makes up the Debtors Control
or
a subsidiary company ledger, the group company's TB is the sum of it's own and its subsidiaries ledgers
(You can also see subsidiary ledgers used in other cases e.g. charities where they have funds for purposes)