0
Want this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
What is the difference between adjusting entries and correcting entries?
Correcting entries correct errors. Adjusting entries fine tune the accounts.
What does correcting entry mean on a bank statement?
Accountants make correcting entries when they find errors. There are two ways to make correcting entries: reverse the incorrect entry and then use a second journal entry to record the transaction correctly, or make a single journal entry that, when combined with the original but incorrect entry, fixes the error.Adjusting entries should not be confused with correcting entries, which are used to correct an error. That should be done separately from adjusting entries, so there is no confusion between the two, and a clear audit trail will be left behind in the books and records documenting the corrections.
Describe the nature and purpose of correcting adjusting and correcting entries?
what is a corrective entry? what is a corrective entry?
Why is it important that companies make adjusting journal entries?
It is important to make adjusting journal entries as there may be some mistakes in original entries or company may created accrual entries which needs adjustments at the end of month or accounting period.
How do you make entries regarding Fixed deposits i n tally 7.2?
How do you make entries regarding Fixed deposits i n tallyRead more: How_do_you_make_entries_regarding_Fixed_deposits_i_n_tally_7.2
Why is it important for a company to make adjusting journal entries?
It is important to record adjusting entries as if it is not done then there is no accurate financial statements will be available.
Who can make entries in medical charts?
All members of a health-care team or individuals who render professional health-care services usually make entries into medical records.
If a birth date is wrong on a birth cerificate does it make it null and void?
No. But it does need correcting.
How do you make service tax entries?
i need your help about entries of service tax, optional voucher, journal voucher, memo vouchers in tally 7.2
The word for correcting a wrong that was done is what?
The word for 'correcting a wrong' is what?
The words that make up a dictionary are called?
The words that make up a dictionary are called entries or lexemes.
On status bar used to make entries more readable?
Zoom Slider
