TRAIL BALANCE
Trail Balance is a statement that shows the opening balances of various ledgers identified and created during transaction entry. The main intention of preparing Trail Balance is to check the arithmetic accuracy of transactions and Ledger Postings.
General Proforma of Trail Balance
|
Particulars |
Amount Dr. |
Amount Cr. |
|
Cash a/c Capital A/c Asset a/c Liability a/c Bank a/c Bank OD a/c Sundry Creditors a/c Sundry Debtors a/c Expense a/c Income a/c Current asset a/c Current liability a/c
TOTAL |
XXX
XXX
XXX
XXX XXX
XXX |
XXX
XXX
XXX XXX
XXX
XXX |
|
XXXX |
XXXX |
The sum of Debit column of Trail balance should be equal to the total of Credit column (i.e. should be tallied). Otherwise, it may be considered that some mistake has been happened during transaction recording.