Reconcile Control Account Nominals for Month-End

To support accounting processes, complete the following tasks for all control account nominals:

Control Account Nominal Tasks to complete
Payment Run Clearing Account

There should be no balance against the nominal. If any balances remain, check all payment runs have been completed and posted
Purchase Ledger Control
  • Reconcile the transactions for nominal from the Trial Balance against the Aged Creditors report
  • Investigate any differences
  • Check the age of invoices and document reasons for late payments
Sales Ledger Control
  • Reconcile the transactions for nominal from the Trial Balance against the Aged Debtors report
  • Investigate any differences
  • Check the age of debts and that outstanding amounts are being chased
  • Account for any bad debts
Credit Card Control

Check the balance in the Trial Balance. To clear the nominal, if the direct debit has been taken, post the direct debit.
Petty Cash Control Account Check the balance matches the Petty Cash Tin balance.
Teachers Pension Control and LGPS Control

Check all employee and employer pension contributions for the next month are recorded

If required, get the Local Gov Pension Scheme

Net Wages Control Check the balance equals all employee and employer PAYE and NI contributions for the next month
VAT Control

Check the amount matches what you expect to receive from HMRC for the previous month VAT return

Any balance in the VAT Input and VAT Output nominals must be for the month you are working in prior to doing that month's VAT return.
Intra-Company
  • Check the balance equals zero in the Trial Balance for all core nominals
  • To investigate any differences, use the Intra Company Transactions Report

If using the intercompany option, location-specific Trial Balances always balance.