Question

If a mistake were made in a journal entry how would you go about fixing it?

Answer 1

clarify your question? what do you mean?

Answer 2

For example, if I am enter an entry in a general journal, I realize I made a mistake. How would I attempt to make the correction in the general journal?

Answer 3

well, i guess you could use like a red pen or something to edit your mistake.

Answer 4

or whiteout! :D

Answer 5

Ok. Thank you.

Answer 6

Is this double entry accounting?
Why not just reverse the error?

Answer 7

Yes. This is double entry accounting?

Answer 8

So we don't really want rubbing out or red pens, we want a clear audit trail.

So write annotated entries to reverse the error and then do the entries correctly.

Then a third party can see what has happened.