how do we rectify the following
Debtors ac. Dr. 11800.08
Round off ac. Dr. 0.08
To Sales. Cr. 10000.08
To IGST. Cr. 1800
its a totalling mistake in once account but rest are posted correctly
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rectification of error
Replies (2)
suspense Dr. .08
To Debtor .08
To Debtor .08
If the entry passed in computerised environment, system will automatically credit suspense a/c with 0.08 for the TB to tally - Hence in this case the rectification entry will be Suspense Dr 0.08 to Roundoff Cr 0.08
In manual accounting scenario, there will be no suspense a/c (also TB will have debits more by 0.08), hence credit 'round off a/c' with 0.08 and no other account needs effect i.e no double entry
In manual accounting scenario, there will be no suspense a/c (also TB will have debits more by 0.08), hence credit 'round off a/c' with 0.08 and no other account needs effect i.e no double entry
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