Error account
An error account is a type of account used for storing compensation for errors in trading, a transaction that is not posted in a timely manner because of inconsistencies, such as an incorrect account or routing numbers to the wrong name on the account, producing a claim that needs to be resolved as soon as possible so payments can be made. == Transaction processing == When many hundreds or thousands of transactions are being done each day, and whenever there is human input involved, error accounts are necessary to keep the audit trail intact.