A trial balance is a list of debit and credit balances of all the ledger accounts extracted on a given date. It is the prepared in a separate sheet of paper to verify the arithmetical accuracy of books of account. This note has information about trial balance and its objectives.
The trial balance is prepared on daily or monthly on yearly basis as per the requirement of the business. It is prepared on a given date in a separate sheet of paper. This note has information about the procedures of preparing trial balance.