The act of totaling debit balances and credit balances to confirm that total debits equal total credits. see also balance.

In accounting, a workpaper used to list all the debit and credit balances in the general ledger and to determine that the total debits equal the total credits (the result of double-entry accounting).

a test to see whether all the debits and credits in a set of account books match.

The list of account balances in a double-entry accounting system. If the records have been correctly maintained, the sum of the debit balances will equal the sum of the credit balances, although certain errors such as the omission of a transaction or erroneous entries will not be disclosed by a trial balance.

A draft calculation to see if debts and credits balance, this can be regarded as an ongoing tracking system.

a balance of debits and credits in double-entry bookkeeping; drawn up to test their equality

a listing of the accounts in a company's general ledger and their balances as of a specific date

a list of accounts and their balances at a point in time

a list of all the accounts and their balances

a list of each accounts balance

a list of just the balances of all the accounts in the nominal ledger

an accounting document that for a given period consists of all statements from the same accounting system, wherein the sum of the debit transactions is equal to the sum of the credit transactions

a simple list of the debit and credit account balances

a starting point for analyzing and reconciling account balances and activity

a summary analysis of general ledger account balances

is the detailed listing of the balance sheet account balances, which enables analysis and preparation.

a listing of all accounts, with their balances entered as debits or credits in columns, to determine whether the accounts balance, that is whether, total debits equal total credits. A trail balance is typically prepared at the end of an accounting period just before preparing the adjusting entries and the financial statements.

This is recorded to show the proof of the equality of debits and credits in a general ledger.

A list of all the nominal accounts at a given time, together with their net balances, shown as either a debit or a credit balance. The double entry book-keeping system, if completed correctly, requires that the total of all debits equals the total of all credits. In theory the balances should always be equal in your Sage accounts program. If an imbalance occurs, it may indicate that you have corrupt data. Click here to go back to the top of the page

A Trial Balance is the exercise of printing out all the left side and right side totals for each GL Account in the Chart of Accounts and adding them up to prove they are balanced.

A statement of general ledger accounts that enables an accountant to confirm whether amounts debited equal amounts credited.

A spreadsheet that lists all loans in a portfolio and their payment schedule. Usually required for a portfolio transaction.

The list of balances on each individual Nominal Account on a specific date. The Income & Expenditure Account is prepared from the Trial Balance.

Listing and totaling all balances in a ledger to verify that total debits equal total credits.

at the close of an accounting period, the transactions posted in the ledger are added up. A test or trial balance sheet is prepared with assets on one side and liabilities and capital on the other. The two sides should balance. If they don't, the accountants must search through the transactions to find out why. They keep making trial balances until the balance sheet balances.

A statement showing all the accounts used in a business and their balances.

A worksheet showing the balances in each account; used to prove the equality of debits and credits. Understandability The quality of accounting information that makes it comprehensible to those willing to spend the necessary time. Weighted average cost method An inventory costing method that assigns the same unit cost to all units available for sale during the period.

A list of the balances of the accounts in a ledger kept by double entry, with the debit and credit balances shown in separate columns. If the totals of the debit and credit columns are equal or their net balance agrees with a control account, the ledger from which the figures are taken is said to be "in balance."

a list or abstract of the balances, or of total debits and total credits, of the accounts in a ledger.

A trial balance is a listing of the accounts in your general ledger and their balances as of a specified date. A trial balance is usually prepared at the end of an accounting period and is used to see if additional adjustments are required to any of the balances. Since the basic accounting system relies on double-entry bookkeeping, a trial balance will have the same total debit amount as it has total credit amounts.

A listing of the accounts in the general ledger along with each account's balance in the appropriate debit or credit column. The total of the amounts in the debit column should equal the total of the amounts in the credit column. To Top

A trial balance is prepared at the end of an accounting period by adding up all the account balances in your general ledger. The debit balances should equal the credit balances.

A listing of all account balances that provides a test of whether total debits equals total credits.

A list of debits and credits from which the profit and loss account is prepared Trivial Pensions. A pension from an occupational pension scheme which is deemed to be too small to warrant being paid periodically and, therefore, can be paid in lump sum form, subject to preservation and contracting out requirement.

List of all ledger accounts. Credits and debits equal each other out.

In bookkeeping, the trial balance is a worksheet wherein all the balances of each ledger are entered in two columns, namely debit and credit. Trial balance is prepared in each financial period as a summary of the closing of the previous ledger. The total of the debit side should always be equal to the total of the credit side which proves the arithmetic accuracy of the ledger entry.