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What Are The Errors That Do Not Affect Trial Balance?


Date : 03/01/2019

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Uploaded by : Subesh
Uploaded on : 03/01/2019
Subject : Accounting

What are the errors that do not affect trial balance?

Trial balance is prepared when transactions posted into the accounts are balanced up. The trial balance is then prepared to check the accuracy of those posted transaction. It is normal sometimes that some errors may be apparent but despite this, they may not affect the trial balance. It is very important for any accounting officer to note that these may occur in one way or another.

Different types of errors which don t affect the trial balance,

Error of omission

Where in the full transaction is omitted from the books of accounts.

Error of commission

Where we have entered the correct amounts but in wrong person s account.

Error of principle

This type of error takes place when an item is entered in wrong head or class of accounts.

Error of compensation

Are that errors which cancel the effects of each other.

Error of complete reversal of entries

These errors occur when we debit and credit the two or more aspects of a transaction wrongly using correct figures or amounts.

Error of original entry

Entering wrong original figure or amount in an accounts.

Error of transition

This resource was uploaded by: Subesh

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