The Vendors control account stores summary balances of open (unpaid) Payable transactions. When AP Invoices/Credit Memossales transactions are posted, the accounts receivable (Debit) is posted to the Customer's Control Account and the details are written to the Customers 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 payment.
General
Content
Integrations