Creditors Control Account

Accounting
1

Ok so i have searched, and cant seem to find a definitive answer some say one way others say another.

I have imported my trial balance from the previous year, the creditors account has a balance of around £6,350.00
quite a few debts owed, payments towards this balance are in the bank account, since VAT should have been accounted for already in the trial balance, can i post these payments directly to the creditors control account (to reduce the balance i assume ?)

Also am i suppose to add a journal for this and how would i go about that ?

DR (from which account)
CR (which account)

Any help in this would greatly appreciated…

2

Surely someone must be able to point me in the right direction ?

3

We don’t have huge representation here from accountants and bookkeepers, at least not at the moment, but that may change.

I definitely think you should try posting on one of the following, I’m sure you’ll get a quicker response there.


4

You can reduce opening creditors balance through journals, if you have recorded any out going transaction in bank already then better delete them and perform following journals

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5

Ok thanks for the info

Also thank you for this, this has helped greatly, i can now deal with these payments that was causing me a massive headache.

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