Imbalances of Debtor Accounts
and Control Accounts

by Carl Bown

Q: What are the possible reasons for imbalances in these accounts?

Carl, I assume your question is regarding imbalances between debtor (or creditor) control accounts (general ledger) and between the individual debtor (or creditor) accounts in the debtors or creditors ledger. With that in mind...

Remember that the entries in the control accounts are general entries of totals from the subsidiary ledgers. So any error in "posting" these totals could cause an imbalance.

Likewise, entries in the individual accounts come from the individual entries in the subsidiary journals. So any error in "posting" the individual journal entries to these individual accounts could also cause an imbalance.

I know that is not very specific, but I hope that gives you a better idea of what could have caused an imbalance. If not, pop me another question with more details.

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Creditors & Debtors Reconciliation

by anonymous

Q: An invoice for $36 was not entered in the debtors journal. Please advise whether to credit or debit on reconciliation...

Well, an invoice here indicates that a sale was made. And a sale means debit the debtor (and credit the income).

If this transaction was not recorded, it means the debit to debtors was not recorded. So now you need to record it. So you enter a debit now on reconciliation. Hope that makes sense!

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Property Debtors - Reconciliation Process

by Anna

Q:What is the reconciliation processes of property debtors on leased properties?

A: Anna, this should be the same as for a regular debtor's reconciliation. I.e. reconciling the list of individual debtors accounts in the debtor's ledger with the total of the debtor's control account in the general ledger. Hope that helps. Post a comment below if you need more assistance or have more info regarding these reconciliations and transactions related to them...

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