Contents and search
Trial balance
Review totals and balances per account and trace discrepancies to the ledger card.
The trial balance places posted debit and credit totals and the balance next to each account. It is primarily a control overview, not a replacement for the balance sheet or profit and loss statement.
Step by step
- 1Select the fiscal year and required period.
- 2Check that total debits equal total credits.
- 3Review accounts with an unexpected balance or unusual balance side.
- 4Open the account to inspect individual lines and counter-accounts.
- 5After a correction, compare the same period again.
What is on the screen?
- Account and category
- Debit and credit totals
- Debit or credit balance
What happens next?
A balanced trial balance proves that debits and credits reconcile, but not that every posting uses the correct account or date. That requires review of documents and ledger lines.
Continue reading
Reports
Choose a trial balance, balance sheet or profit and loss report from the question you need answered.
Read guidance →General ledger and ledger card
Trace each account’s opening balance, movements and closing balance back to their postings.
Read guidance →Balance sheet
Read assets, liabilities and equity as a financial position on one date.
Read guidance →