Discussion Topic

Why it is said that same amount in Debit and Credit side in Trial balance does n't ensure the mathematical accuracy of financial transactions?

Why it is said that same amount in Debit and Credit side in Trial balance does n't ensure the mathematical accuracy of financial transactions?

by Tamanna Akter Swarna -
Number of replies: 0

Because a lot of time we make mistakes in the amount of money which is equal to the debit credit of the trial balance. Many time we mistakenly think of debit as credit and credit as debit in the transaction which does not effect the trial balance and the figure is correct. For this , if the amount in trial balance of debit and credit side is same that does not ensure the mathematical accuracy of financial transactions.