Skip to content
  • There are no suggestions because the search field is empty.

What is the Trial Balance?

A Trial Balance is a financial statement that shows the closing balance of each General Ledger (GL) account at a specific point in time. This report helps accountants perform a high-level audit of a business's books, ultimately ensuring everything is being tracked and accounted for accurately in the GL.

The Trial Balance displays the beginning balance, net debit or net credit, and ending balance of each GL account for the period. This report is primarily used to help the business owner ensure their debits and credits are accounted for properly in the GL
and their books are balanced.

When viewing your Trial Balance, you can drill down into the report to see all of the transactions and journal entries contributing to the debit balance, credit balance, or ending balance for each specific GL account within the reporting period.