There are certain types of errors that do not affect the test credit count. That is, it is counted, but there will still be mistakes. These are as follows: There are also errors that cannot be detected by a trial equilibrium: They are as follows:- The agreement of a test equilibrium is just a verification of the arithmetic accuracy of the Ledger, but it is not conclusive proof of the absolute accuracy of the books. The following errors have no influence on the agreement of the trial balance and are therefore not disclosed by the test balance: we know that if the sum of two columns of the trial balance coincides, it means that the trial balance corresponds to the accounts of the accounts. But it also means that the accounting bookings were arithmetically correct and were correctly booked in the Ledger. For the types of errors mentioned above, the identification process takes a lot of time. Only strict vigilance and continuous review of entries have minimized such errors. Of course, computerized accounting packages such as Tally.ERP 9 systems offer built-in mechanisms to prevent the occurrence of these errors. If the trial credit is not correct, the following procedure should be followed carefully: errors disclosed by the trial balance and errors that are not disclosed by the trial credit (ii) commission error: if a transaction was debited or credited to a fake account with the correct amount and on the correct page in the books of the initial entry or in the main book; The test balance is not affected.
However, if the test credit is not correct, there may be errors when entering the transaction. These errors are called “errors affecting the audit report”. These can be: some errors affect the agreement of the test report. If such errors have occurred in the books, the sum of the credits and credits is not the same. The results of the tests are not counted. The partial omission and error errors of the committee affect the agreement on the trial balance sheet. Examples of such errors are: (iii) compensation errors: these are errors neutralised by the commission of an error or error of the same magnitude, but of the opposite nature, which makes it possible to agree on the trial balance sheet. For example, the clouds of a sales book of (say) are charged at 3000″ and therefore the excess credit on the sales account is calculated either by overload or by credit of a single account or multiple accounts, for a total of `3,000.
Post an article on the wrong account, but on the right page. For example, if a purchase of Rs 200 by Ramu Raman was credited instead of Ramu and this error does not affect trial Balance`s agreement. Therefore, Trial Balance does not recognize such an error. The objective of carrying out the test report is a cross-checking process to test the accuracy of the reservation. If the trial balance agrees, it proves that the books are arithmetically correct and that both aspects of the transactions (debit and credit) were recorded both in the books of the initial record and in the Ledger. In this article, we will discuss errors in the test report and steps to find errors. (iv) Error of principle: errors of principle, such as furniture encumbered on the purchase account, buildings sold, credited from the sales account, commissions paid for the purchase of land encumbered in the commission account, etc., have no impact on the trial balance, since they relate to the distribution of the amount received or spent between income and capital. There will be no impact on the trial credit, as the double registration is passed, one account is debited and another is credited.. . .