Accounts & Finance

"In the recording process, a trial balance is a list of ledger accounts and their debit or credit balances to ensure that debits equal credits.

Assets, liabilities, equity, dividends, revenues, and expenses should appear in this sequence on the trial balance. In bookkeeping, a trial balance is used to list all of the balances in your general ledger accounts. There are two columns in it: one for debit balances and the other for credit balances. Each column's total should be equal to keep the books balanced. "