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When a journal entry is passed with the double amount ?

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تم إضافة السؤال من قبل VENKITARAMAN KRISHNA MOORTHY VRINDAVAN , Project Execution Manager & Accounts Manager , ALI INTERNATIONAL TRADING EST.
تاريخ النشر: 2015/02/18
Sahar Alech
من قبل Sahar Alech , Auditor / Financial Manager , Accounting Services Office

Mr. Mujtaba Ali Had answered the question

Mir Mujtaba Ali
من قبل Mir Mujtaba Ali , Internal Audit Manager , Confidential

Say for example:

Goods sold to a company is wrongly debited in sales account.

This error is effecting only sales account as the amount which should have been posted on the credit side has been wrongly placed on debit side of the same account. In order to rectify, we should put double the amount of transaction on the credit side of the same account.

 

Malik Khalid Mahmood
من قبل Malik Khalid Mahmood , Regional Finance Manager , Leosons International FZ LLC

at the time of correction a mistake ..............

Ahmed kandil
من قبل Ahmed kandil , Cost Controller , Battour Holding Cpompany

Agree with mr mujtaba Ali..

ايمن محمد عاطف محمد
من قبل ايمن محمد عاطف محمد , Director of the control and regulation unit , ACOLID

The accounting error in the input Reverse enrollment and to clarify the cause of the error correctionExampleThe proof of purchase of goods and recognized in inventory and increase inventory turns at a deficit in the inventory entry for the error in this case is wrong and work permit exchange of stores to straighten inventory balance correction

   

Ayman Esa Mustafa Farrag
من قبل Ayman Esa Mustafa Farrag , مدير مالي , شركة الصفوف

Entry versa replace , enter the correct input

Salah Othman Yousef Alshambaati
من قبل Salah Othman Yousef Alshambaati , مدير ادارة الحسابات , شركة انفال الجديدة للتجارة والمقاولات

Agreed with Mr Mir mujtaba

nour ibrahim
من قبل nour ibrahim , محاسب ومراجع قانونى , مستقل

Thank you for the invitation and agreed with Alasta y Ayman

FITAH MOHAMED
من قبل FITAH MOHAMED , Financial Manager , FUEL AND ENERGY CO for transportion petroleum materials

should  

 

Registering journal entry opposite  with original amount

 

ex 

sale inv  value100 SR

*- passed entry mistake by double amount 

200  ac / cash 

to 

200 ac / sales 

 

 

*- to correct entry 

100 ac / sales

to

100ac / cash

 

or*************************

 

*- cancel first entry 

200  ac / sales 

to 

200  ac / cash

 

 

*- register the entry correctly 

100ac / cash 

to 

100ac / sales

Asim Azaldeen Abdalrahman Mhammed
من قبل Asim Azaldeen Abdalrahman Mhammed , Property Manager , TAAM PROPERTY

Agreed with Mr Mir mujtaba ali .. nice and enough answer

mehfooz alam khan habib khan
من قبل mehfooz alam khan habib khan , Security Incharge , Landmark Group (Emax)

When we passed a wrong entry like purchased put into credit side. Now we will passed double ammount in debit side for correction.

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