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control account

noun
1.
a general account showing totals of transactions with detailed figures appearing in subsidiary ledgers.
Also called controlling account.
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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Examples from the web for control account
  • The vendor master record also contains accounting information, such as the relevant control account in the general ledger.
  • The total of this record should equal the revenue control account in the general ledger.
  • The tobacco prevention and control account is created in the state treasury.
  • In addition, a control account consisting of the total fund transactions and balances should also be maintained.
  • At any point in time the control account in the general ledger must equal the total of the detail in these subsidiary ledgers.
British Dictionary definitions for control account

control account

noun
1.
(accounting) an account to which are posted the debit and credit totals of other accounts, usually in preparation of financial statements
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition
© William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012
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