Page Comparison

The Vendors vendors control account stores summary balances of open (unpaid) Payable transactions. When AP Invoices/Credit Memossales payable transactions are posted, the accounts receivable (Debit) is posted to the Customer's Vendors Control Account is credited, and the details are written to the Customers vendor sub-ledger. When a customer payment is posted, the Customer's Control Account is credited and the details in the customer sub-ledger are updated to reflect the paymentpayments are made and posted, the vendor payable balance is debited, and vendor sub-ledger is updated.