Day: January 21, 2022

Unpresented Cheques: Cheques issued by the firm for payment to the creditors or to other supplies but have not been presented to the firm’s bank for payment. Uncredited deposits/cheques: These are cheques received from customers and other sources for which Read More …

Introduction The cashbook for cash at bank records all the transactions taking place at the bank i.e. the movements of the account held with the bank. The bank will send information relating to this account using a bank statement for Read More …

These types of errors are reflected on the trial balance because the debits will not be same as the credits. The debits may be more than the credits and vice versa. Examples include: 1. Transaction is posted on one side Read More …

The trial balance produced from the accounts appears to be okay/correct, i.e the debits are the same as the credits. However, on taking a close check on the balances and transactions posted, errors may have been made and therefore the Read More …