When you are a business in Coeur d’Alene Idaho you may need to understand what a Trail Balance is. A trial balance is a list of all accounts in the general ledger that have a balance other than zero. This is prepared right before the financial statements to make sure that the accounts are in balance and that all journal entries have been prepared correctly and accurately according to the reality of your Idaho business.
If the trial balance does not balance (debits do not equal credits), it indicates that there has been an error made in either the recording of the transaction, in the general journal, or in the posting of those transactions in the general ledger.
