The correction of accounting errors is made according to the management period in which the error was committed and the management period in which it was detected. In this scientific article the author investigates the types of accounting errors and how to correct them in accordance with the provisions of the NAS „Accounting policies, changes in accounting estimates, errors and subsequent events”, the main sanctions, which are established for violating the rules of preparation and presentation of primary documents and accounting records. The research was carried out based on the accounting, fiscal, contravention, criminal legislation and works in the field of local researchers. Finally, we conclude that accountants must periodically check the accounting information in order not to admit errors and sanctions related to them.