N.Y. Comp. Codes R. & Regs. tit. 10 § 451.254
Current through Register Vol. 46, No. 41, October 9, 2024
A list or abstract of the balances or of total debits and total credits of the accounts in a ledger, the purpose being to determine the quality of posted debits and credits and to establish a basic summary for financial statements. The term is also applied to a list of account balances (and their total) abstracted from a customer's ledger or other subsidiary ledger for the purpose of testing their totals with the related control account.
N.Y. Comp. Codes R. & Regs. Tit. 10 § 451.254