The BOP statistics uses the double entry system. This means that every recorded transaction is represented by two entries with equal values. One of these entries is designated a credit with a positive arithmetic sign, the other is designated a debit, with a negative arithmetic sign.
In principle, the sum of all credit entries should be identical to the sum of all debit entries, and the net balance of the statement should be zero. In practice this is rarely the case, since the entries are estimates often independently derived from different source statistics, and as a result there might be a net credit or a net debit. To correct for this unbalance, a separate entry is made to balance the accounts. This entry is known as net errors and omissions.
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