31 March 2009
A system which makes use of control accounts so that each ledger will balance on its own. A control account in a subsidiary ledger will be mirrored with a control account in the General ledger.
31 March 2009
i agree with expert. the use of Self balancing is ......
(i)deduction of error in debtors/ creditors A/c (ii) Errors are localised. (iii) It enables preparation of interim accounts without personal ledgers having to be balanced. (iv) The figures of total debtors or creditors is readily available.
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