A trial balance is a summary of all ledger balances, and helps in checking whether the transactions are correct and balanced. If journal entries are error-free and posted correctly to the general ledger, the total of all debit balances should be equal the total of all credit balances.
To view the Trial Balance
1. Go to Gateway of Tally > Display > Trial Balance. The Trial Balance appears as shown below:
2. Press F12 to configure the Trial Balance, as required.
Note: As per accounting principles, the Trial Balance does not display the closing stock.
3. Press Ctrl+A to accept.
Note: While providing the opening balance in ledgers, equivalent contrary balance will appear as Difference in opening balances in order to tally the assets and liabilities, or debit and credit balances. The entry passed for the difference will affect the closing balance, but the Trial Balance will still display the difference in the amount. To balance the difference in the opening balance, you need to adjust it with the opening balance of another ledger.
For example, if the Difference in opening balances is Rs 5000/- on the debit side, adjust this with Rs 5000/- of credit in the opening balance of another ledger.
'Trial Balance' has been shared with
