Finance & Accounting
Trial Balance
Statement listing all general ledger account balances at a point in time, used to verify debit = credit.
What it means
A trial balance is the bridge between bookkeeping and financial statements. It lists every ledger account with its debit or credit balance. Total debits must equal total credits — if they don't, there's a recording error.
In modern accounting systems, the trial balance is generated automatically. It's used during month-end close to spot anomalies before producing the P&L and balance sheet.
How Easedesk handles Trial Balance
Easedesk's trial balance is real-time. You can drill from any account balance down to journals, then to source transactions (invoice, payment, etc.).
Related terms
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