Accounting errors
- Created by: Yzyl Quintana
- Created on: 26-03-18 08:20
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- Things that could result in the statement & account held in the books of the debtor to show different balances
- Goods returned had been incorrectly entered in the books of either the seller/debtor
- The debtor had entered goods as having been returned in the books when, in fact, the goods were not returned to the seller
- A purchase had been made at the end of the month but only entered in the books of either the seller/debtor in the following month
- Goods returned had been entered in the books of the seller but not in the books of the debtor
- A purchase had been recorded in the books of the seller in the debtor's account when it should have been entered in the account of another customer
- A purchase had been recorded in the books of the debtor in the seller's account when it should have been entered in the account of another seller
- A purchase had been omitted from the books of either the seller/debtor
- A purchase had been incorrectly entered the books of either the seller/debtor
- Goods had been despatched by the seller and entered in the books of the seller but had not yet been received by the debtor
- A payment made to the supplier and entered in the books of the debtor had not yet been received by the seller
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