The errors that are detected in any stage of the Accounting phases must be corrected immediately, error correction method varies depending on the stage or the place where the error.
Ways to correct accounting errors
first errors that occur when recording in the daily Journal:
If an error has been detected at the stage of registration in the daily journal using the manual system, it is not permissible corrected or amended through the cancellation or the ERASURE or FILLERS, as well as when the use of accounting programs, some programs offer the power to amend the same restriction the sinner, but there are two ways to correct errors detected at registration, a lengthy method (indirect) the way abridged (direct).
1 lengthy method (indirect):
Through this method, the corrected the wrong registration through the registration of two limitations are as follows:
registration under the abolition of restriction error:
In this restriction is being canceled the wrong registration through the registration under the reverse order, so that the debtor party party party become a party creditor creditor a debtor.
Express under correction:
After check in, after the cancellation of the registration of the restriction.
The example of
the accountant log under a mistake for sale of goods on account of $5000 to record the following entry:
debtor and creditor Statement
5000 to h/debtors of the
sale of goods to the
correct restriction error using the lengthy way.
First we Log in reverse order to cancel the restriction error:
debtor and creditor Statement
5000 to h/procurement
reverse restriction error
secondly we're recording restriction right : the
creditor of the debtor's statement
of 5000 h/debtors
5000 to h/sales
sale of goods on account
2 way abridged (Direct):
using this method, it is registered under the one true includes cancellation of wrong and prove correct enrolment Enrolment, but this method has لاتنفع to correct all errors that may occur in the daily Journal, and therefore preferred to use the lengthy way, not the way abridged when correcting accounting errors, so as to facilitate the process of review of the error.
Secondly correcting errors that occur in the ledger:
the errors that occur in the ledger either that occur when the DEPORTATION of the financial operation of the Daily Journal to the LEDGER, or when categorized into Professor Page, or when الترصيد, these errors are either detected when not in balance or accident or review, or that the mistake was discovered when the financial process in the daily journal and then the error was deported to the LEDGER thus, upon discovery of the error in the ledger, the process corrected the error correction process easier if discovered in the daily Journal, where the modification of obliteration and pad dispassionate error allowed in the ledger, unlike the daily journal in which the write-off of the STUFFING and other.
Thirdly correct the mistakes of previous years:
Know the errors, according to the International Standard No. (8) as the errors that occur in the