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ACCA Applied Knowledge · Financial Accounting · Payables account reconciliations

Which item would require an adjustment to the payables ledger control account, but NOT to any individual supplier account?

An overcast of the purchase day book total needs correcting only in the control account, because individual invoices were posted to supplier accounts correctly and only the total was wrong. The other items involve errors in individual accounts or in the list.

  1. AA purchase invoice posted to the wrong supplier's account
  2. BA supplier's account balance incorrectly extracted onto the list of balances
  3. CAn overcast of the purchase day book totalCorrect
  4. DA credit note entered in a supplier's account at the wrong amount

Explanation

An overcast of the purchase day book total affects only the total posted to the control account; the individual invoices were posted correctly to the supplier accounts. A wrong-supplier posting and a wrong-amount credit note affect individual accounts. A wrongly extracted balance affects only the list, not the ledger accounts or the control account.

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