Simple method of rectification of error

I am writing very simple method for correcting the mistakes and error in books of accounts
All work must be done on rough paper or notepad .There are the part of working notes .

Ist step

What is the mistake or error .
Write it as wrong record of ledger accounts or wrong journal entry .

2nd step

What should be the correct entry or what should record which is correct according to the nature of error of accounting . Write it in second step

3rd step

Best rectification of error or write the rectification entry in such a way so that difference will be auto correct .

I take an example

XYZ co. purchased machinery of $ 5000 but by mistake this amount was debited in purchase account .

Ist step

Wrong entry
Purchase account debit $ 5000
Cash Account Credit $ 5000

2nd step

Correct entry
Machinery Account Debit $ 5000
Cash Account Credit $ 5000

3rd Step

Rectification of error entry
Machinery account Debit $ 5000
Purchase account Credit $ 5000

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Rectification of errors

Rectification of errors is very tough work . It is main duty of chartered accountant of any country . A lot of errors can be done by accountant . So C.A. audits the full accounts and if he see any error , his duty to see that why it happen and how can rectify this so that profit or loss or financial position do not affect of this happenings .
To day my main aim is not write just article on this topic but actually , I want to give you simple way to correct your accounts error forever .

Read following lines very seriously and concentrately :-

1. first of find out your error and mistake from accounts.

2. write what is the mistake or incorrect journal entry or incorrect accounts .This error may affect one account or two account note it .

3. Write correct journal entry or make correct account in rough page.

4. in rough page , you will also have to do treatment of your mistake.

suppose you wrote 1000Rs. as sake instead of RS.2000 sale which was correct .
Its wrong is journal entry is

cash account Dr. 1000
To Sale account 1000

In rough paper you should also write correct journal entry

Cash account Dr. 2000
To sale account 2000

Then now your are analyst you should see that 1000 is less in both side so for making the correctness pass another journal entry of 1000 Rs.

Cash account Dr. 1000
To Sale Account 1000

This entry is called rectify entry

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