The Trial Balance lists every account's ending balance as of the period end date, from all posted activity to that date. Total debits must equal total credits; any difference is shown prominently.
Steps
- Choose the period end date.
- Confirm the totals agree.
- Use it to check balances before reviewing the statements.
What you get
A balanced trial balance confirms the ledger is internally consistent.
Who can do this
Everyone in the organization can view this page (owner, admin, accountant, bookkeeper, manager and viewer).
If something goes wrong
- Revenue and expense balances include earlier months.
- That is expected: FINUXI has no year-end closing entry, so they accumulate to date, matching current earnings on the Balance Sheet.
Terms used here
- Trial balance
- Every account's ending balance as of a date, in debit and credit columns. The two columns must be equal.