What is Rectification Entry? How will you rectify the errors before preparation of final Accounts?

Errors should be corrected by over writing. If, immediately after making an entry, it is clear that an error has been committed, it may be corrected by nearly crossing out the wrong entry and making the correct entry. If however, the error is located after some time, the correction should be made by making another suitable entry, called rectification entry.

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Rectification of Errors before preparation of final Account:

While errors are being rectified before the preparation of final account, in certain cases the correction can’t be done with the help of journal entry because the errors have been such. Normally, the procedure of rectification, if being done, before the preparation of final accounts is follows:


Correction of errors affecting one side or one sided errors:-

Such errors don’t let the trail balance agree as they affect only one side of one account so these can’t be corrected with the help of journal entry, if correction is required before the preparation of final accounts. So, required amount is put on debit or credit side of the concerned account.

Correction of errors affecting double side or Double sided error

This error’s affect two sides of debit and credit at a time. Hence it can be rectified by means of journal entry. As two accounts are affected, for correction one account will be debited and another account will be credited.

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