What is an overall record account?

 Meaning of General Record

An overall record account is a record or record used to sort, store and sum up an organization's exchanges. These records are organized in the overall record (and in the outline of records) with the asset report accounts showing up first followed by the pay proclamation accounts.
Instances of General Record Records

A portion of the more normal monetary record records and how they are additionally organized in the overall record include:

    resource records, for example, Money, Records Receivable, Stock, Speculations, Land, and Hardware
    risk accounts including Notes Payable, Records Payable, Gathered Costs Payable, and Client Stores
    investors' value records, for example, Normal Stock, Held Profit, Depository Stock, and Aggregated Other Thorough Pay

A portion of the overall record pay proclamation records and how they are organized include:

    working income records, for example, Deals and Administration Expense Incomes
    working business ledgers including Compensations Cost, Lease Cost, and Publicizing Cost
    nonoperating or other pay records, for example, Gain On special of Resources, Interest Cost, and Misfortune on Removal of Resources

General Record Control Records

Some broad record records can become rundown records and will be alluded to as control accounts. In that particular situation all of the detail that upholds the synopsis sums in one of the control records will be accessible in an auxiliary record.
Instances of General Record Control Records

A typical illustration of an overall record account that can turn into a control account is Records Receivable. The synopsis sums are found in the Records Receivable control account and the subtleties for every client's credit movement will be contained in the Records Receivable auxiliary record.

Other general record accounts that might become control accounts incorporate Stock, Hardware, and Records Payable.