a statement of the debit and credit balances of all open accounts in a double-entry bookkeeping ledger to test their equality
A statement of all the open debit and credit items in a double-entry ledger, made to test their equality.
(plural trial balances)
- (accounting) A statement of the balances of all nominal accounts in a double-entry ledger, made to test their equality. The total value of the debits should equal the total of the credits any difference indicates that an error has been made.