A subsidiary ledger is a group of accounts/records of similar types (e.g., accounts payable).
Subsidiary ledger totals is what’s typically recorded in the general ledger in control accounts.
Three common examples of subsidiary ledgers are:
Accounts Receivable Subsidiary Ledger
Accounts receivable subsidiary ledger is a record of all transaction data of individual customers. A control account for this type of subsidiary ledgers is Trade Accounts Receivable.
Accounts Payable Subsidiary Ledger
Accounts payable subsidiary ledger is a record of all transaction data of individual creditors. A control account for this type of subsidiary ledgers is Trade Accounts Payable.
Fixed Asset Subsidiary Ledger
A fixed asset subsidiary journal is a record of all transaction data for individual fixed assets. This subsidiary ledger may have several control accounts (e.g., Fixed Assets – Buildings).
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