The total of the individual account balances in the accounts receivable subsidiary ledger should agree with the total of the individual account balances in the accounts payable subsidiary ledger.

Accounts Receivable

This represents money owed to a company by its customers for goods or services provided on credit.

Subsidiary Ledger

A ledger containing the details of accounts summarized in a controlling account in the general ledger.

Accounts Payable

Liabilities representing money owed by a company to suppliers or creditors for goods and services received but not yet paid for.