Accounting Glossary Definition (English)
Trial Balance Defined
The following is in context to Accounting, because it's common for a single word to have multiple meanings you will find additional research links near the bottom of the page.
"From time to time, all the accounts in a fund or in an accounting entity may be compared to see if the debits equal the credits. The process of checking all the accounts to see if debits equal credits is a trial balance. The trial balance is often done before the financial statements are prepared. The trial balance can help catch certain type of recording errors such as a debit to cash of $100 and a credit to revenue of $10. With computers, these type of journal entry error are usually caught (or trapped) before they can be entered into the system. Thus, the trial balance can be used to see a summary of all accounts instead of just checking for errors in balance."
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Additional Trial Balance Definition Starting Points
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Expert Dictionary: Trial Balance
