Glossary
Trial balance
A trial balance lists the balances of every account, and its total debits must equal its total credits.
What it means for a shop owner
It is a quick health check of the books before statements are issued. If the two totals differ, an entry is missing or an amount is wrong. A match does not prove everything is right, but it rules out the most common errors.
A worked example
Total debits 5200 and total credits 5200, so the trial balance agrees. If credits were 5150, a difference of 50 has to be found.
Related
Try it in your shop, free, no card.
The free plan: the whole shop for one branch, an offline cashier with stock, debts and accounting, with a daily limit on invoices, expenses and purchase orders. What it includes