ACCA FA Syllabus E. Preparing A Trial Balance - Correct errors - Notes ^{5 / 5}

Types of error

• Errors which affect the control accounts

  • Over/undercast SDB, PDB, CB.

  • Transposition error in posting total from SDB/PDB/CB to nominal ledger.

  • Entry omitted from SDB/PDB/CB.

• Errors which affect the list of balances (receivables/payables ledger)

  • Omit balance from the list

  • List a debit balance as a credit/vice versa.

  • Transposition error in filling ledger from books of prime entry.

• Errors which affect both the lists of balances and RLCA/PLCA

  • Details being incorrectly recorded on the original source documentation i.e. sales/purchase invoice.

  • Loss of original source documentation so it is not recognised anywhere in the system.