What are accounting Errors?

An accounting error is a non-fraudulent discrepancy in financial documentation. The term is used in financial reporting.

Types of accounting errors include:

• Error of omission -- a transaction that is not recorded.
• Error of commission -- a transaction that is calculated incorrectly. One example of an error of commission is subtracting a figure that should have been added.
• Error of principle -- a transaction that is not in accordance with generally accepted accounting principles ( GAAP). One example of an accounting error of principle is an expenditure that is placed in an inappropriate category.

If a company discovers that an accounting error significantly affected a previous report, it usually issues a restatement of the original release.

there is two kind of errors

1/ Regestration Errors this what is happening when we regestring the transaction on general jounral

 A/Errore in A/c Name

B/Error in transaction Amount 

C/Remove Error 

D/Tech Error

2/Posting Error when  we posting transaction from Jurnal To general Ladger 

A/Posting Regestred transaction Amount  

B/Error in posting the balance of transaction to apposite side 

C/error in posting the balance to the wronge Account 

D/Error in Accounting balance 

E/Error in posting one of the account part