ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
From the web's #1 provider of financial analysis / ratio analysis
PROFESSIONAL SERVICES Definition
PROFESSIONAL SERVICES are those services offered by university trained professionals, e.g. doctors, lawyers, and accountants for, normally, a professional fee.
Learn new Accounting Terms
LCL see LESS THAN CONTAINER LOAD.
CREDITORS CONTROL ACCOUNT reflects the total amount owed to all the individual creditors. The balance of the creditors control account must equal the total of the creditors list, which represents the amounts owed by the individual creditors obtained from the individual balances in the various subsidiary ledger accounts for each creditor. This subsidiary ledger is known as the creditors ledger.