control account definition and meaning

With the double-entry accounting system, accounts receivable, and accounts payable are the common types of control accounts. Control accounts are essential for organised and accurate financial records. They simplify bookkeeping, help spot errors, and improve financial reporting. Using them effectively gives you better control over your finances, and you can make informed decisions to drive […]

6 Best Real Estate Bookkeeping Software for Rentals in 2024

One simple, consolidated ledger for all your Baselane banking & external account transactions, all automatically synced. If you’re a landlord with poor bookkeeping practices, you could face some serious landlord bookkeeping consequences. A reconciliation is the process of comparing two sets of records to check that they agree. When it comes to rental expenses, there […]