trial balance

A statement of all the open debit and credit items in a double-entry ledger, made to test their equality.

American Heritage® Dictionary of the English Language, Fifth Edition. Copyright © 2016 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

trial balance

(Accounting & Book-keeping) accounting a statement of all the debit and credit balances in the ledger of a double-entry system, drawn up to test their equality

Collins English Dictionary – Complete and Unabridged, 12th Edition 2014 © HarperCollins Publishers 1991, 1994, 1998, 2000, 2003, 2006, 2007, 2009, 2011, 2014

tri′al bal′ance

(in bookkeeping) a statement of open debit and credit items, made before balancing a double-entry ledger.

ThesaurusAntonymsRelated WordsSynonymsLegend:

Noun

trial balance - a balance of debits and credits in double-entry bookkeeping; drawn up to test their equality

balance - equality between the totals of the credit and debit sides of an account

Translations

trial balance

n (Comm) → bilancio di verifica

Collins Italian Dictionary 1st Edition © HarperCollins Publishers 1995

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References in classic literature

will you get down to brass tacks and strike a trial balance? What are you talking of, anyhow?

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[ClickPress, Fri May 03 2019] "The cloud accounting software is basically a software application which records and processes all the business transactions such as account payable, account receivable, general ledger, and trial balance. This accounting software could be developed within the organization or purchased from the any software suppliers.

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[USPRwire, Mon Apr 29 2019] "The cloud accounting software is basically a software application which records and processes all the business transactions such as account payable, account receivable, general ledger, and trial balance. This accounting software could be developed within the organization or purchased from the any software suppliers.

Cloud Accounting Software Market Increasing Growth Worldwide With Share and Regional Forecast 2025

Iain Duncan Smith became leader of the Conservative Party impossipuzzles "It's driving me crazy," cried Judy, "my trial balance won't balance."

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The new standards also make it clear that preparing financial statements in their entirety from a client-provided trial balance or underlying records is considered a significant threat to the auditors' independence.

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He said the IFMIS generated imprest register and trial balance reflect instead outstanding imprest of Sh2,033,608 and Sh9,117,357 respectively as of that date.

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For example, on page 13 of the Kpone-Katamanso Assembly September 31, 2017, Trial Balance, GH?75,210.3 was spent on fuel, when the Assembly had taken off fuel allocation to its senior staff.

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According to ChicagoBusiness, the Office of Inspector General for the Treasury Department said in a report, 'The manager disclosed that she had been informed by a bank employee that the employee and the bank's then-president had been regularly falsifying loan payments for at least 29 loans totalling approximately USD68m in aggregate assets, and had falsified Washington Federal's loan trial balance before providing it to examiners.'

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Plus the extraction of a Trial Balance, Profit and Loss account & Balance Sheet.

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These calculations were mostly done with an Excel template whereby only a couple of numbers had to be pulled from the trial balance to understand the ratio.

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