Errors of Omission.- Where transactions are completely left out of the double entry system. *Have been missed out of double entry. Errors of Commission.-Correct amounts are entered but into the wrong persons account. (Different debtors name.) *Wrong name account. Errors of Principle.- Item is entered into wrong class of account. e.g. fixed assets motor van is debited to motor expense account. *Entered in wrong account. Compensationg error.- Where errors cancel each other out. Sales account and purchase account is totalled with £10 too much. *When 2 accounts dont add up. Error of Original Entry.- Where the wrong figure is taken from the original document. *Wrong amount enterd. e.g. its supposed to be £45 but has been put in at the wrong amount of £54. Reversal of entry.- Correct amounts are used but debit and credit entries are wrong. *Put in the credit side when its supposed to go in the debit side. (Also opposite way too).
Once these errors have been discovered the they must be corrected using the JOURNAL.