What Is Trial Balance?

A Presentation of TB Works SoftwareAn accounting trial balance software created and

designed by an accountant for accounts.

If you are associated with accounting or finance, exit

now. But for those, who have very little or NO

understanding of accounting and How Trial Balance

Work, then slide more to find out.

After every accounting period, a T Balance or Trial

Balance report is created for the purpose of listing

ending balance in each account.

Total of all debits equals to the total of all

credits, is the primary goal of creating this report

(Trial Balance).

This (Trial Balance) report is generally

required by auditors

when performing the annual audit.

Auditors

normally transfer

this report to

any auditing

software

Manual compilations of financial

statements also requires Trial Balance

report.

When the Trial Balance report is first

created, it is called “Unadjusted Trial

Balance”.

When the

accounting team

makes

adjustments and

fix all the errors,

then it is called

the “Adjusted

Trial Balance”.

The Trial Balance report is strictly compiled from

accounting records.

Organizations with

subsidiaries get an

ending trial balance

report from each

subsidiary.

Trial Balance

A Trial

Balance

Report is

initially

comprised

of the

following

columns:

• Account

Name

• Ending debit

balance (if

any)

• Account

Number

• Ending credit

balance (if

any)

And

Each line item contains

only the ending balance

in an account

An adjusted Trial Balance version may

combine both debit and credit columns into a

combined column.

And, add

columns to

show revised

ending balance

and adjusting

entries.

We have made trial balancing simple with our state of the art

trial balance software

“TB Works Trial Balance Software”

Visit www.TBWorksSoftware.com to get a FREE Demo now.

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DATA SOURCE:ACCOUNTINGTOOLS.COM

Example

Of

a

Trial

Balance