Trial balance
In Arabic ميزان المراجعة
A list of every ledger account with its debit or credit balance at a date, used to check that total debits equal total credits.
In plain words
It is the first report an accountant runs before the financial statements. If debits and credits do not agree, something was posted one-sided and has to be found before anything else.
A trial balance with turnover adds the opening balance and the period’s debits and credits for each account, which makes unusual movements easier to spot.
The common mistake is treating a balanced trial balance as proof the books are right. A sale posted to the wrong revenue account still balances.
- Cash
- Dr 6,000
- Receivables
- Dr 9,000
- Inventory
- Dr 15,000
- Payables
- Cr 10,000
- Capital
- Cr 20,000
- Totals
- Dr 30,000 = Cr 30,000
In Axon Suite
How Axon Suite handles it
Axon Suite reads the trial balance straight from the posted ledger, with the opening balance, debits, credits and closing balance for each account and a check that debits equal credits. It prints as a PDF in Arabic or English.
Feature
Trial balance, P&L and balance sheet
The trial balance, income statement and balance sheet read straight from the posted ledger. Each parent account totals the accounts beneath it, and the balance sheet tells you whether it balances.
Open: Trial balance, P&L and balance sheet