Control Accounts

The concept of a Unified Ledger Accounting Application is often new to people who have used traditional Modular Accounting Systems, though the idea is very simple. Traditional modular systems have separate General, Purchase and Sales Ledgers which reflect times when accountants wrote information into large paper books or ledgers. Balances on control accounts were copied from one book to another, so that a full set of accounts could be completed and as an additional process control accounts were reconciled. This ensured that all of the individual entries added correctly to the control totals before any transfers were made. In the late 1970’s computer experts spotted the potential for writing accounting systems using computer software. Quite rightly they asked accountants what they did and replicated the system of accounting used providing a solution that was easy to understand. This was the birth of Modular Accounting Software which reflects the historic process by either generating information in the background or by batch updates from one ledger to another. What the experts didn’t ask was why accountants had this multiple book system. The reason for which is simply that having a single book would mean that having to accumulate values for what had been bought, sold or received in cash would be extremely difficult to manage and history had taught them how accounting should be done. A unified accounting system works differently; it is a single book in which two entries, a debit and credit, are made at the same time. All of the debits add to the same value as all of the credits. The result is that no control accounts are required and no transfers to other ledger books. There is no requirement for you to reconcile control accounts, and no opportunity for your system to be out of balance. In addition, there are no hidden background processes within software that need to be checked or maintained.

Control Accounts

 

Control Accounts Knowledge Base

Control Accounts....?

why in the control accounts you have 2 balance b/d and 2 balance c/d? An early reply is really appreciated..... Thanks

Is the accounts receivable account the same as creditors control account?

Hi there, i have to estimate the doubtful debts of a company, i have all the accounts at hand and know that i need to estimate the doubtful debts base...

What is the importance of control accounts?

What are the reasons for drawing up control accounts in Financial accounting?

How do I get to the user accounts control panel if my shool administrator has disabled it?

How do I get to the user accounts control panel if my shool administrator has disabled it?

how you can prepare control accounts?

In accounting principles, there is what we call control accounts so i would like to ask how you can prepare it?

Does the built-in Administrator account in Vista show in User Accounts in Control Panel if activated?

Also, is it possible to create a user account in Vista that doesn't show in User Accounts in Control Panel?

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Auditing Accounts

 

Auditing Accounts Knowledge Base

What are the requirements of auditing of Accounts of Associations under Societies Reg Act,BPT Act,I.T.Act?

What are the requirements of auditing Accounts of Associations registered under Societies Registration Act, Bombay Public Trust Act & I.T.Act? When by...

why are outside auditors used for auditing corporate accounts?

i know accounts of businesses have to be audited and they must be done by auditors who do not have a vested interest in the business but why? what are...

What does it cost to produce an annual set of audited accounts for a dormant company?

At the moment I am looking to form a dormant company for the next 12 months and I wanted an idea as to cost for the production of annual accounts. The...

In winding up a company(Sdn. Bhd), does accounts need audited and can bank balance be shown in balance sheet?

Is an audited accounts of a company (Sdn. Bhd) having a debit bank balance shown in its balance sheet be accepted for submission for deregistration ?

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Reseller Accounts

 

Reseller Accounts Knowledge Base

Where would I be able to find a rapidshare account reseller or store selling accounts?

I dont want to buy this online and alot of the free methods are bogus or full of viruses. I have one that does work but its incredibly slow. How can I...

who can you trust to buy reseller web hosting accounts?

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where can I get a free reseller hosting account with no hidden fees?

Ok, I wana find a free reseller account that has no hidden fees, no costs, and no cheap websites for the person reselling... Good luck! =P

Where can I find a complete vps solution for hosting reseller?

Hello all! Where can I find a complete vps solution for hosting reseller that let me create sub reseller accounts, and offer billing, enom and other ...

Can I rent out some of my web hosting space if I don't have a reseller account?

I'd like to offer my clients web space to go with their web page as a way to raise a little more money for myself and to be able to pay off my yea...

I have a reseller account through my webhosting provider.?

Where do the webhosting providers get the hosting that they sell to the public? Also I am looking for a clone script for a craigs list sort of site, a...

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Management Accounts

 

Management Accounts Knowledge Base

Does anyone know of a good records management service (for accounts department) in Melbourne?

Hello, I work in Accounts Payable and our company is looking at digitizing our paperwork- specifically invoices, employee expenses and statements. ...

I need the format or sample of management accounts?

Give me the management accounts i.e end of monthly accounts

Which is the best software for school accounts management system (for single PC use)?

I am looking for a software which can help me managing the school accounts i.e fee, salary and things like that.. I will use it on single PC so I am ...

Can you keep your credit card accounts open after using a debt management service?

Just wondering if anyone has used a debt management service and knows if this is possible. I know they set them to automatically close when they are f...

Can a landlord or any management company ask for my bank accounts- savings and checking numbers?

Can a landlord or any management company ask for my bank accounts- savings and checking numbers and also the balance of each account. Is it legal in c...

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Business Accounts

 

Business Accounts Knowledge Base

Business accounts?

I want to open a business account. I was thinking about the 'Abbey' business account. Anybody out their have an expierience with this bank? If...

When a business gets credit accounts from suppliers does that appear in there credit report?

What i mean is, does it count as a credit card in the business account. If so, is there a maxium number for credit accounts that a business can have?

I registered for a business number and GST account which I never used. How do I cancel my accounts.?

I need to know the fastest way to clear this up. I never used the business account so when they sent me documents to file business tax returns, I neve...

Are business bank accounts covered by the bank balance guarantee UK?

So if my bank had £50,000 in it (I wish!) and my bank went under I would (in theory) get back the £50,000. BUT, if I am in partnership with some...

When will the iphone be available to business accounts?

I would like to buy the iphone but I am linked to a business account. Does anyone know when businesses will be able to put the iphone on their plans?

Does the FDIC treat Business accounts the same way as individual accounts?

Does the FDIC treat Business accounts the same way as individual accounts? (in that they are insured for 100,000)

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Financial Accounts

 

Financial Accounts Knowledge Base

where can i find examples of financial accounts for small independent record labels?

i'm looking for examples of profit and loss accounts, etc for small to medium independent record labels. anyone have a clue?

can a legally separated husband or wife freeze financial accounts of the other spouse prior to divorce decree?

Spouses have been separated for 30 years. The husband signed the house over to the wife. 28 years later the wife secured a mortgage loan on the hous...

is there any proffessional financial / accounts courses in Mumbai for ssc passed?

can I persue any course in mumbai(india) of account & finance i have only passed ssc in the year 2004, currently working for a ltd company in senior l...

How i will know about all financial ,tax,budget,accounts., etc updates day to day in net.any websites is avail

I want to know and have to keep in touch with all accounts and financial related matters because i am working as an accountant in pvt firm, so i need ...

In Annual Financial Accounts, is Finance Expense synonymous to Interest Payable?

I am trying to locate Interest in Income Statement of a corporation, I only see Finance expense, are they same and one thing? Are they Synonimous?

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Software Accounts

 

Software Accounts Knowledge Base

How to maintain proper book of accounts and accounting software?

I am running a business over 3 years not maintaining proper books and accounting software. Please advice how to maintain proper book of accounts and a...

Any suggestions for a business and personal software accounts package?

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How do you download different software programs for different user accounts on Windows XP?

For example, I'm trying to set up two different ITUNE accounts for both me and my wife. How do I download the ITUNES software for two separate ac...

Is there an accounting Software that can track paypal accounts?

I'm starting a home office and need a finance/accounting package that can help me track paypal accounts, multiple currencies and money owed to me ...

Which is the best software for school accounts management system (for single PC use)?

I am looking for a software which can help me managing the school accounts i.e fee, salary and things like that.. I will use it on single PC so I am ...

How can i move emails and/or email accounts from Thunderbird to another software?

How can i move my emails from Thunderbird to another software? Can I also move other things like my accounts from Thunderbird to another software? ...

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Hosting Accounts

 

Hosting Accounts Knowledge Base

who can you trust to buy reseller web hosting accounts?

I been to many places online some offer to little for your money ait.com-lousy service,steals money your atm card godaddy-sucks too hard to do host...

How do you connect DNS servers to hosting accounts?

I bought domain names on Godaddy but my hosting is on other sites & I'm not sure how to connect the two.

Can you setup multiple ftp accounts to access Yahoo web hosting?

I have a friend that wants me to help him with his website, I would prefer for him to not give me his user account and password, and to set me up with...

Are server-side includes (SSI) available for Yahoo Small Business Hosting accounts?

I don't want to use SiteBuilder to build my site within Yahoo Small Business Hosting and need to know if I can use my own web site template that i...

How to host 5 or more websites in one hosting account?

Hi, i have about 5 domains registered through different registrars like godaddy and namecheap. If i have built websites for all this 5 and wanted to h...

How long does it take to update after transfering new files to new hosting account?

I have transfered new files to new hosting account by ftp, how long does it take to update? Thanks.

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Accounting

 

Accounting Knowledge Base

accounting?

I am in my junior year of a bachelors in accounting should i wait till a get done with financial accounting 1 and 2 to look for a job or should i wait...

How do I account for Credit Card Merchant account in Tally or other accounting software?

I need to create groups of accounts for a company in Tally or other accounting software. I have 2 merchant accounts with different credit card compani...

What is accounting cycle? How the accounting transactions pass through various books of accounts before?

What is accounting cycle ? How the accounting transactions pass through various books of accounts before they get reflected in the final accounts ?

What is the difference between an accounting clerk, accounting technician and staff accountant?

I was so happy that I found a job in public accounting, however, they gave me an "Accounting Technician" title and I am pursuing a professio...

Accounting from community college is different from Accounting at a 4 yr school?

So, I want a career in Accounting or Finance in the future. I will be attending an community college in the fall, and I couldn't find accounting...

Does a bachelor in Accounting have a standing chance against the falling economy?

I am planning on attending college and getting a bachelor in accounting, but I am deciding whether I would have a promising future in majoring in Acco...

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Bookkeeping

 

Bookkeeping Knowledge Base

bookkeeping ...?

I graduate from high school,planning to go to college and study accounting.I do not have enough money and I need to save up for the college. I think ...

What is the best bookkeeping software to use for a small business?

Best UK or international software for basic bookkeeping. I'm starting a business and will be doing the bookkeeping myself. Problem being I've ...

How can you start a bookkeeping business from home ?

I am currently attending a community college taking bookkeeping and computerized accounting . I would like to start my own business and contract with ...

What should I put in a flyer advertising bookkeeping services?

I've been doing bookkeeping work since June 2000. I've mostly worked for employers in tax/bookkeeping offices. I've had a few clients &q...

How can I start a bookkeeping company out of my home?

I want to start doing some bookkeeping out of my home. I am just wonding how I go about getting this started. Also, what is the amount I should think...

How can I get a bookkeeping position with no experience?

Hello, I recently received my bookkeeping certification and is know looking for a bookkeeping position. However, most of the positions Ive looked a...

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