trial balance

Noun

Meaning

trial balance (plural trial balances)

(accounting) A statement of the balances of all nominal accounts in a double-entry ledger, made to test their equality. The total value of the debits should equal the total of the credits any difference indicates that an error has been made.

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Examples

As a partial check that the posting process was done correctly, a working document called an unadjusted trial balance is created. Source: Internet

The bookkeeper brings the books to the trial balance stage: an accountant may prepare the income statement and balance sheet using the trial balance and ledgers prepared by the bookkeeper. Source: Internet

This results in a listing called the adjusted trial balance. Source: Internet

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