Define: Trial Balance

Business, Legal & Accounting Glossary

Definition: Trial Balance



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Full Definition of Trial Balance


At the close of an accounting period, the transactions posted in the ledger are added up. A test or trial balance sheet is prepared with assets on one side and liabilities and capital on the other. The two sides should balance. If they don’t, the accountants must search through the transactions to find out why. They keep making trial balances until the balance sheet balances.


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Trial Balance. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/trial-balance/ (accessed: April 08, 2020).
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Trial Balance. PayrollHeaven.com. Retrieved April 08, 2020, from PayrollHeaven.com website: https://payrollheaven.com/define/trial-balance/

Definition Sources


Definitions for Trial Balance are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 25th March, 2020