When a large number of individual accounts with a common characteristic are grouped together in a separate ledger, the summarizing account in the general ledger is called a control account.

Control Account

A summary account that consolidates detailed information held in subsidiary ledgers, simplifying the general ledger.

Subsidiary Accounts

Individual accounts contained within a general ledger, used to provide detailed information about a specific aspect of the business.

General Ledger

A comprehensive record of a company's financial transactions over the duration of its life, organized by accounts.