Difference Between Sales Ledger Control Account And Purchases Ledger Control Account

Comparison Between Sales Ledger Control Account And Purchases Ledger Control Account In Accounting

The Sales Ledger Control Account shows each individual 's customers sales list at one place to whom the business made Credit Sales while Purchases Ledger Control Account shows each individual 's suppliers or vendors purchases list to whom the business made Credit Purchases.

The closing balance of Sales Ledger Control Account is transferred to Income Statement as a Direct Revenue while the ending balance of Purchases Ledger Control Account is transferred to Income Statement as a Direct Expense for the period.