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Debtors – Customer Reconciliation Report (Daybook/Trial Balance)

Debtors – Customer Reconciliation Report (Daybook) 

The Debtors and Creditors Control Accounts are two of the most important accounts on the nominal ledger, as they represent money owed to you by your customers and money owed by you to your suppliers. Therefore, most companies reconcile these accounts on a monthly or yearly basis.

We have designed a report to include the following all on one report:

Transaction type Effect on control account
SI The total value including VAT is automatically debited to this account, increasing the balance.
SR or SA The total value is automatically credited to this account, decreasing the balance.
SC The total value, including VAT, is automatically credited to this account, decreasing the balance.
SP The total value, including VAT, is automatically debited to this account, increasing the balance.

 

The balance on the Debtors Control Account, is the total amount that your customers currently owe you and should always agree with the total balance outstanding on your Customers ledger. You can download the report from here and save it to ‘My customer Reports’.