Start networking and exchanging professional insights

Register now or log in to join your professional community.

Follow

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

user-image
Question added by xin xin
Date Posted: 2016/09/25
WAHYU ADHI NUGROHO
by 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
by 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
by 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. 

More Questions Like This

Do you need help in adding the right keywords to your CV? Let our CV writing experts help you.