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In double entry accounting, errors are not a problem because they are self correction, is it true ?

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تم إضافة السؤال من قبل xin xin
تاريخ النشر: 2016/09/25
WAHYU ADHI NUGROHO
من قبل WAHYU ADHI NUGROHO , Project Leader , PT. MULYAINDRA PRIBADI

Yes, it is,,We can do by using the formula VB or macros, or by using the main functions of the IF and VLOOKUP.

Muhammad Waqas
من قبل Muhammad Waqas , Accountant. , AlHussain

In Double Entry System we have Double aspects of every transaction. 

1. Debit

2. Credit.

If any transaction recorded wrong how could Double entry system Rectified it self.

So it's not true.

Mohammed Asim Nehal
من قبل Mohammed Asim Nehal , M Asim Nehal & Co , Chartered Accountants

No, I disagree with you although it will not have any impact on your trial balance but that will adversely or unduly show a wrong picture to the users. 

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