I have created a Control Account (of Bank Type) and called it “Bank Accounts”. I have then created three separate bank accounts (say, Westpac, ANZ and CBA) and allocated each of these to the Control Account. When I run a Trial balance, I STILL only get the TOTAL shown for “Bank Accounts” and NOT the individual bank (sub) accounts. From reading a post in 2016 I thought that the use of a Control Account allowed ALL the sub-accounts to be shown in the Trial Balance. Is my understanding incorrect?
Yes, if you want to see each bank account listed then you need to create a control account for each bank.
You could re-name your “Bank Accounts” to Westpac and leave Westpac linked to it.
Also the default Cash at Bank (if you don’t need it) could be re-named ANZ and be linked to ANZ
Great, that works perfectly. Thanks for that.