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Do you know what a trial balance is?<br>If you are associated with accounting, then you don't need to look at it. But those of you, with no knowledge of accounting will get a basic idea of what trial balance is all about.
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A Presentation of TB Works Software An accounting trial balance software created and designed by an accountant for accounts.
If you are associated with accounting or finance, exit now. But for those, who have very little or NO understanding of accounting and How Trial Balance Work, then slide more to find out.
After every accounting period, a T Balance or Trial Balance report is created for the purpose of listing ending balance in each account.
Total of all debits equals to the total of all credits, is the primary goal of creating this report (Trial Balance).
This (Trial Balance) report is generally required by auditors
Auditors normally transfer this report to any auditing software
Manual compilations of financial statements also requires Trial Balance report.
When the Trial Balance report is first created, it is called “Unadjusted Trial Balance”.
When the accounting team makes adjustments and fix all the errors, then it is called the “Adjusted Trial Balance”.
The Trial Balance report is strictly compiled from accounting records.
Organizations with subsidiaries get an ending trial balance report from each subsidiary.
A Trial Balance Report is initially comprised of the following columns:
Account Number • AccountName • Ending debit balance (if any)
Each line item contains only the ending balance in an account
An adjusted Trial Balance version may combine both debit and credit columns into a combined column.
And, add columns to show revised ending balance and adjusting entries.
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Example Of a Trial Balance
