trial balance


trial balance
a list of all balances in the ledger at a given time. Glossary of Business Terms

* * *

trial balance trial balance balance1

* * *

trial balance UK US noun [C, usually singular] (ABBREVIATION t.b.) ACCOUNTING
in double-entry bookkeeping, the act of adding the credit and debit columns of all accounts to check that they are equal in order to show that the accounts are correct: »

The trial balance will fail to balance if both aspects of a transaction are not recorded.


Financial and business terms. 2012.