A summary of the ledger
A trial balance lists the debit or credit balance on each ledger account at a particular date. It brings bank postings and journal entries together in one report.
Balance is a starting point
Equal debit and credit totals show that the double-entry totals agree. They do not prove that every transaction is complete or assigned to the correct account. Supporting documents and careful review still matter.
Preparing for year end
Use the company’s actual year end and review outstanding queries, opening balances and adjustments with your accountant. The trial balance supports the preparation of accounts; it is not a replacement for the accounts themselves.
General information only. Speak to your accountant about your own circumstances.