a term in accounting to denote an account head where anomalies, eg wrong treatments of accounts, are transferred. For example, if an asset head is wrongly credited with Rs. 50,000, the assets and liabilities are shown with a mismatch of this amount.
The general ledger of the company has a catch-all figure of Rs. 25,000, which needs to be rectified.
by uttam maharjan July 07, 2011