How to Prepare Trial Balance with Example
How to Prepare Trial Balance with Example The TRIAL BALANCE Explained (Full Example!) Learn how to prepare a Trial Balance using T Accounts and Journal Entries. The Trial Balance is made easy in this episode of Accounting Stuff - Accounting Basics for Beginners Lesson 5 - you will learn: A Trial Balance, or “TB” when abbreviated, is an Accounting Report showing the Closing Balances of all General Ledger accounts at a point in time. Back in the days of Accounting on paper, it was used to check that the Debit and Credit column totals match each other. However, since the introduction of Accounting Software check has become less and less important since it's now done automatically. What is a Trial Balance in Accounting? I explain its definition and structure as part of Basic Accounting for Beginners. Then I explain the purpose of a Trial Balance in Accounting, what a Trial Balance is used for, and why it was originally created. After that, I'll give you five reasons why a bala