Trial Balance Report

The Trial Balance is simply a report that combines both the Profit & Loss and Balance Sheet items to ensure that your double entry accounting is correct and balances. It comprises two columns - one for debit balances and another for credit balances. The totals in each column should be exactly equal. Most Trial Balance Reports, however, have four columns. One set - complementary debit and credit columns - appears for your accumulated balances to date. The other set shows the net amount transacted for the period or month.

This report is generally used to assist in the verification and reconciliation process. You do this to ensure that what you have done in the General Ledger is correct. Verification involves checking the balances in your sub-ledgers.