Creditors Reconciliation | Creditors Control & Creditors Ledger | Explained with Example

In this accounting lesson, we explain what the creditors reconciliation is and why it is done. We also explain how to identify errors that affect the creditors control account and the creditors ledger account, errors that affect the creditors control account only, and errors that affect the creditors ledger only. We go through an example of completing a debtors reconciliation with the completion of the Creditors Control Account and reconciling it to the Creditors list.

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