A question for the academics. General accounting principles says that the debtors ledger should always agree to the debtors control account. However, is it a requirement that the debtors age analysis agree to the control account? The reason I am of the opinion it does not have to agree is because the detailed ledger and TB are printed as at the end of a specific financial period. However an Age Analysis can be printed as at a given date, and even if it is printed until the last date of a specific financial period, it should not include transactions that was captured after the date it is printed for. The age analysis should tell us the state of the debtors as at a given date. The same for customer statements for instance. Printing a statement as at the end of September 2015 should not include transactions posted after that date, for instance receipts posted in October, but dated before end September.
thanks in advance