Glossary · Bookkeeping & QuickBooks term
Trial balance
A report listing the ending balance of every account so you can confirm total debits equal total credits — the first check that the books are internally consistent.
In plain terms
What trial balance means.
A trial balance is a report that lists the ending balance of every account in the general ledger at a point in time, with debits in one column and credits in the other. Because the books are kept on double entry, the two columns must total to the same number.
It is the first thing an accountant runs when closing a period: if the columns don’t match, something is structurally wrong and must be found before the financial statements mean anything.
What it catches — and what it doesn’t.
A balanced trial balance proves the books are internally consistent — every entry had equal debits and credits. That is necessary but not sufficient: a trial balance can balance perfectly and still be wrong if a transaction was posted to the wrong account, recorded at the wrong (but equal) amount, or missed entirely.
That is why a real month-end close goes beyond the trial balance to reconciliation and review — the trial balance confirms the math holds, reconciliation confirms it matches reality.
Put it to work
Books that won’t balance at close?
A Certified ProAdvisor finds why the trial balance is off and corrects the underlying entries — written fixed-fee scope.