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Chapter: 11th Accountancy : Rectification of Errors

Errors at different stages of accounting

In the accounting process, errors may occur in any of the following stages:

Errors at different stages of accounting

In the accounting process, errors may occur in any of the following stages:


A)  At the stage of journalising

At this stage, the following types of errors may occur:

a.        Error of omission

b.        Error of commission

c.         Error of principle

B)  At the stage of posting

At this stage, the following types of errors may occur:

Errors of omission

(a)   Error of complete omission

(b)   Error of partial omission

Error of commission

(a)   Posting to wrong account

(b)   Posting of wrong amount

(c)   Posting to the wrong side

 

C)  At the stage of balancing

At this stage, the following types of errors may occur:

 

a.        Wrong totalling of accounts

b.        Wrong balancing of accounts

 

D)  At the stage of preparing trial balance

At this stage, following types of errors may occur:

Error of omission

Error of commission

(a)   Entering to wrong account

(b)   Entering wrong amount

(c)   Entering to the wrong side of trial balance, etc.



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11th Accountancy : Rectification of Errors : Errors at different stages of accounting |


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