Question

What is control account and clearing account in ar?

Answer 1

Answer:

pata nahi behna ya bhai aaise saval mat pucho

Answer 2

Answer:

Clearing Account;

A Clearing Account is an account that you use to move money from one account to another account when you cannot move the money directly. This account normally has a balance of $0.00 because you always take out the same amount that you put in. It may also be called a Barter or Wash Account.

control account;

A control account, often called a controlling account, is a general ledger account that summarizes and combines all of the subsidiary accounts for a specific type. In other words, it's a summary account that equals the sum of the subsidiary account and is used to simplify and organize the general ledger.