Trial Balance
A Trial
Balance is a list of all the
general ledger accounts (including revenue and capital) contained in the ledger
of a business. This list contains the name of the nominal ledger account and the
balance (either debit or credit) of that nominal ledger account on the selected
date. The debit and credit totals should be balanced if there are no
errors.
1.
Formats: see below for examples
2.
To Date: The statement date, which is the date of the
balances
3.
With Zero
Balance: Tick to include GL codes with no
balance
Example: Year end trial balance with
zero balance unticked. The balances are for the
period of 1 year (12 months).The “Year To Date” words indicate the balances are
for the year.
Example: Particular month end trial balance with
zero balance ticked. GL accounts with zero balance
are included in the trial balance [see red
boxes].
1.
The trial balance is
for the month June 2015
2.
GL accounts with zero
balance will be included