Control and Linked Accounts

Control accounts are used in Moveware to assist in automating tasks, such as invoicing and receipting, by creating automatic 2-sided journals. Different types of control accounts have different functions.

The list of accounts linked to control accounts can be viewed in the “Control Accts” tab of the General Ledger Setup window. Review the table below for control accounts and their associated functions.

How to Set up a Control or Linked Account

Navigate to General Ledger > Setup > Subcodes tab.
Select the relevant account record.
Use the drop-down menu called “Linked” on the right-hand side of the screen, under Subcode Details, to select the type of control account (see image below).
Click Save.

Control Account and Associated Function

Banking Account	Accounts for all money deposited into and withdrawn from into bank accounts.
Inter-Branch Loan	Clearing account for transactions between company branches.
Undeposited Funds	Holds payments received before being deposited into a bank account.
Electronic Clearing	Clearing account for all payments made electronically.
Customers Control	Consolidates the amounts owed by all individual Customers.
Suppliers Control	Consolidates the amounts owed by all individual Suppliers.
Tax Paid	Holds sales and government taxes paid.
Tax Received	Holds all tax received from sales.
Discounts Received	Holds all discounts received from purchases.
Discounts Given	Holds all discounts given from sales.
Finance Charge	Holds all borrowing finance charges, e.g. bank loan interest.
Exchange Variation	Summarises variances from exchange rates for foreign currency transactions.
Payroll Clearing	Clearing account for employee pays.
Retained Earnings	Holds all accumulated company profit retained for use within your company.
Current Earnings	Holds company profit for the current period.
Opening Balance Customers	Used to initialise amounts owed by Outstanding Customers.
Opening Balance Suppliers	Used to initialise amounts owed to Suppliers.
Accruals Control	Accrual accounts for unpaid expenses.
Accruals Advanced Revenue	Accrual accounts for unearned or advanced revenues.
Inter-Currency Adjustment	Holds adjustment amounts for company transactions with multiple foreign currencies.
Prepaid Expense	Used to create journal from jobs with costs but not invoiced yet
Van Line Clearing	Control account for Van Line transactions instead of trade Debtors
Van Line Writeoff	Account for small amounts to be written off in Revenue Reconciliation

Moveware Knowledge Base

Control and Linked Accounts

Analytics

Related content