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Hello. I am given a practise question about Control account reconciliation and one of the additional information was :
“In the sales day book, the total had been miscast as the year heading ‘2017’ at the top
of the column was incorrectly added into the total as £2,017.”And then I looked at the answers , the correction on receivables control account was like “sales day book overcast – 2,017£” on credit side.
So I did not understand “miscasting” and “overcasting” is the same thing? (English is not my first language) . I thought miscasting is probably getting the number less than you should after adding up the numbers – opposite of overcasting.
So I would be very grateful if you explained this, I am preparing for finals.
If you are wanting me to answer then you must ask in the Ask the Tutor Forum – this forum is for students to help each other.
Miscasting means the amount used is simply wrong.
It is possible that the amount was HIGHER than original amount, in this case it is OVERCASTING.
If the amount was LOWER than original amount, then in this case it is UNDER-CASTING.In the question, the figure 2017 was incorrectly added to the total, meaning that the total was HIGHER than original amount by 2,107 i.e the total was OVERCAST.
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